Azeem Azhar

So in some sense, we've already replaced all of that by a factor, right, a multiple.

Of course, we're doing much more of it because work begets more work.

The global economy is bigger and more connected.

We're more demanding.

But there is some data there that we can look at and we can say, actually, we have already seen some part of this play out.

But it is to say that interpreting what's going on is more complex.

So I will pull that essay together in the next couple of weeks and send it out.

So that's my mid-year assessment.

I was pretty accurate, which I think is therefore a flaw in what I predicted.

And I will try to address that the next time we get on with this.

But I do want to talk a little bit about the next couple of years for a couple of minutes and then just leave you hanging with a question.

Right at the end.

So by the time we get to 2027, 2028, I think a few things will happen.

If you look at technologies like this, they go through a phase where all the excitement is in the infrastructure.

And that's where the internet was in, you know, early nineties to mid nineties.

And then when the infrastructure is in place, people understand how to build with it.

The excitement happens in the vertical apps.

Now, that's not a clean separation, of course, but it's a helpful heuristic.

We're still in that infrastructure phase with AI, and the vertical apps that are emerging are still young.

But within two years, they won't be young.