00:00How do you think about the costs versus the kind of the benefit right now?
00:05We definitely want to monitor what the return is on the investment.
00:09I think on some of the productivity initiatives, the return on investment can be pretty quick.
00:14Are you seeing it already?
00:16Probably not just yet.
00:18But when I say productivity, I mean things like, you know, balance sheet reconciliation.
00:23Somebody's doing that, you know, that can be done quicker.
00:28So it's smaller productivity initiatives.
00:30I think for the bigger things like will it really impact clinical trials, that will be a long way before
00:37we actually start to see that.
00:38It costs money in token, but it's a resource allocation decision.
00:41And we're fortunate to have the scale, the size.
00:43You know, I talked about the growth you're seeing, the numbers that you're seeing.
00:47That enables us to invest and really deliver the best to our teams.
00:52What we see, our revenues are higher.
00:54Our sales are higher.
00:56Our retention is higher.
00:57Our margin is higher.
00:58We've got new products out there that our customers are using in this AI environment.
01:04We have been in the semiconductor industry for the last 32 years and have been through many, many cycles since
01:10the 1990s.
01:11So a cycle, semiconductor cycle is the name of the game and it's something that's very normal.
01:18But what's very important is that the fundamentals for AI in the medium and long term are still there.
01:25So we're really not concerned from this point of view.
01:28Duncan, we've talked in the past about the impact of electrification and the energy transition on some of the metals
01:34that you mine and increasing demand for those.
01:37On top of that, do you see increased demand from the wave of data centers that are being set up
01:42or is it all just part of one big trend for you?
01:44So it is part of the underlying thesis for copper, without a doubt, AI data centers.
01:51But so is, you know, the re-electrification of the world.
01:55Once you layer AI to have drive intelligent processes, you will get the best out of it.
02:00And so it is a journey that doesn't take place over weeks or months, but over quarters and years.
02:05But we are very optimistic about what this can do for us.
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