 So with that, Andal, maybe I'll turn it to you and we start into the debate just after that. Today we're going to talk about the underlying capabilities of AI, which is semiconductors. So if we're going to slide two, I basically would give some background on myself and also the company. So IBS has been in business for 33 years. We work with most of the major semiconductor companies. We also work with financial institutions. But we also work extensively with governments. We work with the US government on their strategies for semiconductors. I spent a lot of time in China regarding semiconductors in China. We also interfaced with the French government. We actually had a high level discussion with the French government last week. Also Japan, also Taiwan. Now we're also doing some work for India and also potentially Vietnam. So we work on a global basis and also a key part of what we do is focusing on the growth and evolution of AI. And then focusing very heavily on the semiconductor support for AI. And of course, the key part of the essence of AI is data. And in some ways data has similarity to oil. But also I'm going to cover why semiconductors have become so important in the last few years. And one of course is now the governments of many countries are involved. Also the supply chain issues. But the third factor which is that of the emergence of generative AI is going to change multiple industries. And I'll cover some of those points that are focused very heavily on the semiconductor supply that is needed to support AI. Can we go to slide 3 please? So we see AI today in smartphones. The camera functionality in smartphones is based on AI. And this is the beginning. So basically we're going to see many, many new applications emerging. In the automobile industry, we see some of the consumption in 2030 at about 2500 per vehicle compared to $500 in 2020. And of course a key part of that is the self-driving capability that will emerge. Nvidia of course has had very high visibility recently in terms of data centers. And we can think of data centers in some ways as equivalent to oil refineries. A large amount of data goes in and it gets processed. And then of course the utilization of data is very widespread. And of course the key building block function of AI is that of the GPU of Nvidia. Where they produce, where it costs them about $3,000 to make it. But they sell it for $50,000 and they're global shortages. So this is the beginning of what we call generative AI. And the impact initially is in the data centers. But we will see why it's been used at the edge devices in the edge applications in future. Which means major opportunities for countries in the Middle East, in Europe, in the US and in other global regions. And we go to slide 4 please. So governments are becoming increasingly active in semiconductors. And of course the initial driver was that of supply chains. Cars could not be shipped because of lack of semiconductors. So we now see the joint venture between Global Foundries and STM. ST Micro in Chrome. We see Fab in Germany for TSMC. We see Fab in Germany for Intel. The US Chips Act is producing some money. So governments are now actively involved in decision processes for semiconductors. This was not the case in the past. And of course AI will increase the involvement of the governments. Let's go to slide 5 please. So the semiconductor market will be a trillion dollars in 2030. IBS along with SEMI predicted this back in 2017. So of course this is a huge industry with significant potential. But it is very fragmented in terms of many different products. Let's go to slide 6. So a trade war has emerged in the semiconductor industry. So let's go to slide 7. Let's go one more slide. Thank you. This is the one I want. So a trade war has emerged between the US and China in semiconductors. And of course a part of it was supply chain issues. But US sees China becoming a major competitor in terms of semiconductors. But the real emphasis right now is on artificial intelligence. The key building blocks for semiconductors in terms of the artificial intelligence are processors. And this is where there's right now a trade war between US and China regarding supply chain of processors. Also the AI is increasingly important in the military applications. Drones rely very heavily on AI. And of course software for military intelligence is a key factor in terms of the AI arena. Let's go to the next slide. So China though is moving rapidly in building semiconductor capabilities. And I've been there, I just came back over just about a week or so ago. And this is my third visit to China this year. I spent about six weeks in China this year. And we do see a rapid progress in a number of areas. And of course China has a large number of highly skilled engineers and Chinese governments providing large funding. The role though of Taiwan is critical. TSMC is producing approximately 60% of the foundry market and 90% of advanced feature technologies. Apple, Qualcomm, Nvidia, all these companies depend on TSMC. What's going to happen to TSMC in the future? That's a question for another discussion. And basically we do have significant visibility into what some of the potential options are. Let's go to the next slide. So generative AI is effectively a new capability within the semiconductor industry. Generative AI is the ability to develop software which then allows tasks to be addressed very effectively. Chat, GBP can create content. But the real value of generative AI is development of software which then allows new applications to emerge. We heard in the last presentation about digital health. That's going to be one of the biggest growth industries in 2030 to 2040. And generative AI and semiconductors are a key part of that. Also sensors will be a key part of that. And of course sensor capability and sensor leadership is in Europe. And in generative AI we think it will be important to have global collaboration, a collaboration between countries that have different skill sets but also different requirements. So this is a new era for the semiconductor industry. And again, generative AI is a new capability which will revolutionize many applications. Let's go to the next slide, please. And let's go to the next slide. So generative AI basically is the ability, as I mentioned, to generate models. And the initial activities of generative AI is in data centers. And as I mentioned at Vidya, their revenue data centers in 2014 was 199 million. This year will be 40 billion. So what IBS has done is quantified the value of generative AI. And if we go to the next slide, let's go to the next slide, please. Yeah, basically we looked at each category and then looked at the value of AI. And this is what we have in terms of the impact of AI in 2030. Let's go to the next slide. So AI will represent $760 billion out of a total of a trillion dollars of the semiconductor industry. This really has a huge impact in terms of semiconductor production, semiconductor supply, but also now increasing government control over semiconductors. Let's go to the next slide. This shows a similar perspective, but now based on a percentage basis. So this is going to change the semiconductor industry's supply chains. And again, it's going to produce many new opportunities. Let's go to the next slide. So what we see in the semiconductor market as a summary is the market will decline this year, that will grow next year, and then basically fairly strong growth between now and 2030. The trade war between the US and China, though, however, will become more contentious. We see more restrictions being placed on China, and it's actually hurting China. China is trying to do some mature technologies, and that's going to be a pay for a while. However, though, there's going to be a point where China will push back. And that's going to create potentially significant supply chain issues on the global basis. When will it occur? Maybe 2025, 2026, maybe 2027, but it's going to happen. So again, the trade war issues have some basis for national security. Other areas that we question. And again, the end result is China is making huge investments in semiconductors. But as I said, there will be significant escalation of the conflict in the future. Let's go to the next slide. So the growth of the semiconductor market right now is driven quite heavily by smartphones, by data centers. But basically, we're going to see edge devices being the key factor in terms of generative AI. So what are the applications? As I mentioned earlier, digital health. This is revolutionary. I've been exposed to some activities in Stamford, in Harvard, and we will have major benefits in terms of reduction or increased importance of diseases, longer life times, more productive lifetimes. So this is going to change society. And of course, it's going to take large resources. It's also going to take collaboration. Food production is another area where there's going to be significant benefits from generative AI. The education system will need to change dramatically. What is being learned today will become obsolete with generative AI. What people will have will be what we call a virtual digital twin, which will have higher IQ in terms of data analysis than the human brain. We'll have autonomous transportation, of course. This will change logistics. We think China will actually be the first market to adopt generative AI and L5 ADAS. Maybe 2035, it's going to come. So we will have major changes in society. Yes, we can learn about the dangers of AI, but it's important to accept AI and try and accelerate the adoption because the benefits will far outweigh the limitations of AI. So thank you very much. That is my presentation. I wish I could have more time. I wish I could be there. But again, thank you very much. Thank you, Andrew. And you stay with us if you can, right? So what we are hearing from the previous panel and what Andrew is sharing with us is that we are going into a new era. I mean, we have been through the gold era, the oil and gas era. And now we are entering into this semiconductor era. I mean, this is a very critical phase. And this is going to be there for the next 30, 40, 50 years, right? So Andrew, I mean, there is a question for you. I mean, is it a good time? Is it the time? Is it the moment in life where collaborations between Europe and the Gulf regions should materialize? And is it possible? You know, the semiconductor industry has different levels. We have the foundry level. And Mubadala has made a significant investment in global foundries. And it took a while, but now the situation looks very positive. But the manufacturing at the foundry level of the, also for memory is one level. And that is very capital intensive. And it also requires a lot of skills. The next level up is other products. And of course, products need markets. And the markets, the smartphones represent 35% of the market. The other level, though, is the applications, the software and the solutions that can be brought to the market. So if you look at generative AI and where growth opportunities exist, as I mentioned earlier, digital health is one of those areas. So if you are going to collaborate, if the Middle East is going to bring up its own industries related to AI, for me, digital health is one of the key areas. And why Europe? Well, Europe has leadership in sensors. The sensors developed by IMEC, CLT, Bosch, Infineon, ST, these are leadership on a global basis. So there can be collaboration in terms of the sensors that you can get from Europe. European companies also have some reasonably good processors. You can build industries like the digital health based on collaboration. So you can utilize the infrastructure that is being built. You can utilize the billions of dollars of capacity that is being built. But then develop new industries. Agriculture is another one. Basically pharmaceutical is another one. So to me, the collaboration should be based on applications that benefit society and whether benefits are tangible. And of course, there can be significant investments, but the payback will be huge. So I see significant synergy between Europe and the Middle East. And frankly, I think the emergence of generative AI, companies like JAT-TBT, this is the perfect time to build new industries. And as has been said, as Paul mentioned, basically we need to collaborate. No country can do everything by themselves. And again, I think right now is perfect timing to look at generative AI and then look at who the potential partners can be. And of course, they do involve political stability in relationships as well as economic factors, as well as innovation, and of course, also the need for end markets. So to me, this is perfect time to focus on generative AI because there are the early stages of emergence, but the applications and opportunities are very clear.