So, they are much more susceptible to economic pressures. And what we’ve seen starting from last year again is just fewer product launches across our customer portfolio. And I think this is very similar with what we are hearing in the industry. So that’s a major part. And then we are seeing a bit of a minor part in terms of the patent side of customers just take a tighter look at the patents that they are renewing. We highlighted that in the Q2 call and that is played out frankly, exactly as we expected coming out of the Q2 call. Thank you. Thank you.
Tom Ross: Thank you.
Mark Donohue : Thank you. Next question.
Operator: Our next question comes from the line of John Mazzoni with Wells Fargo. John, your line is now open.
John Mazzoni: Hi, thanks for taking my questions. I’m on for Seth this morning. And I just wanted to get a quick one in on the kind of OCC subscription growth really around just what your expectations are for 4Q as well as any initial thoughts into ’24? Thanks.
Jonathan Gear : So, you’ll recall, at the August call on Q2’s results, we indicated, we expected to see some headwinds in Q3 on the subscription filed and we did. That’s in almost entirely from our life sciences business where we see a pullback on the updates for real-world data, based on what the sales pattern had been in the preceding three to four quarters. So, that played out as we expected. We do expect a sequential improvement in our subscription growth from Q3 to Q4. And then obviously, January is a very important month in our renewal cycle. Lot of work going on this month and next month. So, we’ll have a much better line of sight into the subscription growth across the business when we’re together in early, March for the year end results.
John Mazzoni: Great. Thanks for the color.
Jonathan Gear : Sure.
Operator: Our next question comes from the line of Owen Lau with Oppenheimer. Owen your line is now open.
Owen Lau: Good morning and thank you for taking my questions. So, you talk about Yale has selected Clarivate for AI and big data and also how you are leveraging cloud. Could you please broadly talk about the progress of any more capabilities such as AI to your products? And what are some of the key product launches in the near term to increase the engagement with existing and potential customers? Thank you.
Jonathan Gear : Got it. Owen, thank you for your questions. So I’ll go ahead and cover a few. I mean, as we’ve discussed before, and as I discussed in my prepared comments, we see we’ve all previewed AI for 15 plus years. But this year, and the, and the technology is coming out in Gen AI are I think a game changer for – this is information and tech-enabled content companies like ourselves. And we’re really seeing in a couple few ways generically and then I’ll be specific. First, in terms of enhanced search capabilities. The ability to use Gen AI to find the right content, the right curated content, faster drives incredible efficiencies for our customers. And so that’s that is true across all three segments. And as we roll out our products and as we’re testing right now with our clients, we are leveraging and expect to see rolled out of enhanced curated service across all of our segments.
I think that this is going to be table sakes. And then you get that combination of incredibly strong efficiency tool on top of our curated proprietary content is a game change of enhancement of efficiency for our clients. That certainly is one area. And then secondarily, in terms as a generic example is just using as a way to unlock additional content insights to help our clients in their workflow. And there’s a little more targeted. I didn’t comment on one in my remarks about Forecast within IP and only about this diving deep on this one. So if you are managing a large IP portfolio as one of our clients is a multi, multi, multimillion dollar spend. And the challenge has always been, where is the best value in terms of that that portfolio patents that you manage and it’s been a challenge for decades on how to best manage that.
