Mr. David Lee:

The impact on work is more nuanced as well. Over the past ten to 15 years we have seen activities move out of Ireland to lower-wage economies. We now see examples of people using the power of GenAI to bring those activities back into the organisation because the labour arbitrage piece is no longer relevant. It is quite a nuanced discussion. When the word "impact" is used, people generally associate it with a negative. In many of the areas that are most impacted, we have skill shortages. If the productivity of a software development team can be improved by 40%, that is good news for everyone. It is not anyone having their job displaced, it just means that more gets done more quickly. When we think about impact, we need to see both sides of the equation.