Dr. Patricia Scanlon:

I will start and might then pass to Professor Ahern. We are well placed. There is the regulation whereby we follow Europe. We are very aligned with Europe but it is the implementation of the regulation that will differentiate Ireland. The question is how we will go about this. Do we make it easy for our companies to start up, scale up and do business in a regulated space? Do we attract companies to Ireland? It will all be about how we implement the regulation. I am sure the debate and the tweaking of the regulation and the EU AI Act are ongoing. Ireland has a place at that table. It makes sense because Ireland also has a lot of these big guys.

The regulation for the LLMs is different from the regulation for companies that are implementing this. That is more about the products and services brought to market, whether these are high, medium or low risk. It is a separate regulation when it comes to the LLMs, which are those seven companies, and more, that are the really big guys we mentioned. The way Ireland will differentiate is how we will make it easier on companies to comply with the regulation to deliver their innovations, products and services to market in a regulatory space that includes the EU AI Act.