Mr. Eoin O'Reilly:

Correct. It needs to happen quite quickly. We are seeing it in our own organisation. The Deputy mentioned accounting and lawyers. There is change coming and there is no doubt about that. There is no doubt about how some of those jobs, skills and roles will change and how they will need to adapt. We see that positively. As an organisation that employs many accountants, many of our people are quite excited about some of the tasks – the manual labour-type activities and repetitive tasks – where AI will have a bigger role. It allows them to concentrate on the higher risk areas and the more judgment areas they want to be doing.

On regulation, I welcome that in the Act there is differentiation between companies that are using AI and this idea of the frontier – the big strategic models the Deputy mentioned. The regulation cannot be just light touch. The agencies around Europe will need to get in behind us, look at some of the models and see that the controls the organisations are documenting are actually put in place, particularly in higher risk areas such as healthcare and beyond.

Finally, on sustainability, I agree with Mr. Lee that we need to look at the benefit AI can bring to the climate equation. Optimising use of electricity and water is something we are seeing. It is almost like ancillary services around the data centres are using AI heavily to try to balance and run them efficiency. That could be taken into food production, waste and all those kinds of areas, which are a big part of the sustainability equation.