Mr. Jeremy Rollison:

The understanding the Deputy just presented is very comprehensive. These are some of the risks we hear about every day. I captured three specific questions. One was on keeping pace with these risks, the next was on the sustainability impacts and energy concerns in this space and the last was on the risk of concentration. Even that is limited. There are more risks than that when we come back to some of the high-risk cases.

On the first point, there is no doubt that the speed of this technology's development presents challenges to policymaking. That is one of the reasons that the best attempt we can make to keep pace is to look at those core principles and focus on the highest risks. Perhaps we should even simplify the way in which some of these rules are focused. Where has there been negligence? We have a big responsibility in this space. With the power we see in this technology, we have even more responsibility to get this right now than we had in the past. This is a competitive space and we have seen mistakes made. Things have sometimes been released too quickly and we have learned about risks that we should and could have better mitigated. It is going to be a challenge to keep pace with it but focusing on the highest sets of risks and the biggest sets of concerns remains the best approach.

That is not to say it is easy. On the sustainability challenges, we are very proud of the ambitions we have announced in the sustainability space but we have had to recognise that it is going to be harder to reach those ambitions than we expected because of AI's current energy needs. There are reasons to be optimistic that AI can contribute to resolving some of those sustainability challenges but we have had to be very honest that we also see some of this challenge being exacerbated by the high-energy needs of this compute.

We hear about the risk of concentration a lot. We have tried to lean in and recognise our responsibility. For this to be successful, the keyword will have to be "partnerships". Few players, if any, occupy every layer of the stack here. To be successful with one layer, we need success at the other layers. For Microsoft to be successful in Europe, we have to make sure our partners are successful. This could refer to energy providers or application layers at the end of the stack. It is a very significant task and we have a big responsibility there. We want to remain optimistic but the Deputy captured a lot of the risks really well. It is a tough space to navigate.