Azeem Azhar

And that also, I think, reflects back on companies.

Companies have a lot to do when they want to transform their businesses.

API access is the easy bit.

It's the institutional metabolism that is quite hard, very hard in some cases.

That's why you hear stories of, and I speak to bosses a lot of the time, they're very happy largely with how their AI deployments are going, but they also recognize that really deep and meaningful change is going to take quite a lot of time.

Now, I don't think this is going to be a multi-multi-decade process that it was with

electricity.

I just think companies are more adaptable, people understand the technology better.

We've spent years thinking about how to manage large-scale change, that horrible management consultancy word, transformation.

And firm appetite is very, very clear.

And the adoption will get easier now that there are standard operating procedures, there are playbooks over the last couple of years that at least the leading firms have developed.

But there is a real constraint, and that real constraint is electricity.

It's the physical limitations of this software and whether existing systems can absorb the demands being put on them.

Now, a data center can be built in a couple of years, maybe a bit faster if you're Elon Musk.

But getting that grid connection, as we know, can take several years.

So you can have a data center, but you can't power it up.

And Satya Nadella a few weeks ago said that they had that very situation.

So there is a scramble for getting energy into data centers.

I've spoken to

data center developers in the last few weeks.