 Hi, I'm Hanna Dormistow-Inch, and I lead the Privacy and Chrome Partnerships team in Europe. I'm excited to share with you the progress and outlook on Privacy Sandbox, an open-source initiative by Google to improve privacy across web and apps while supporting key business models that keep the web free and open. But before I do so, I thought it would be useful to take a step back and reflect on transformative changes we're seeing in other industries and what they might mean for us. It occurred to us that the automotive industry's journey to becoming more sustainable may offer insights for the digital ads industry as well. So let me draw some parallels for you. The first parallel, accelerating consumer demand for more sustainable transportation has ignited industry innovation and prioritization. A movement that started with one or two companies now has the largest manufacturers committed to going electric. Similarly, in our industry, we're seeing consumers increasingly demand more privacy from their internet experiences. Any company risks being left behind if they aren't working on making their online experiences more private. Second parallel, people are willing to adapt behavior for a more sustainable solution. Talking with friends who've switched from petrol to electric, they've said that the driving range with petrol is still better, although you have to go to the station to fill up every week. With electric cars, the range may be a little less, but things are actually more convenient because you can charge at home or at work. For our industry, the transition to greater privacy means we'll need to rethink our solutions and adapt our practices. We shouldn't think about electric cars as short-range version of a petrol-powered car, but a new mode of transportation that's fundamentally more sustainable for the planet. Similarly, privacy-observing ad solutions won't be one-to-one replacements of today's ads products, but will address the core business needs of marketers and publishers in a way that sustains and increases trust. Third parallel, regulation follows consumer expectations. We are now seeing higher and higher emission standards and even things like future bans on petrol-powered cars being discussed in places like California. Similarly, in ads, we're seeing more laws legislate the types of data and amount of data that can be used for delivering relevant advertising. Fourth parallel, automation is key. The car industry has made huge progress in automated and assisted driving, where this investment in machine learning has created a strong differentiation that customers pay a premium for. Our own industry can see companies that have invested in machine learning drive more consumer engagement and higher performance with their ads products. So it really is remarkable how far the automotive industry has transitioned in just a matter of years. It obviously hasn't been easy or a straight line, but there is no doubt it's bringing a better future for consumers and manufacturers that embrace this change. We believe this is also the case for the digital ads industry when it comes to privacy. For online advertising and the future of the internet, I think it's not exaggerating to say that this is a now or never moment. The next few years are critical. We can together embrace the opportunity and invest in privacy, build strong relationships with customers, and rise to the challenge by adapting our approaches to the changing world. If we don't, and if we lean back, we risk the free and open web. And with it, people's access to quality information, news, and content. I'm very optimistic that working together as an industry, we can build an ad supported web that fits the future. One that's safer for people, successful for publishers, and good for businesses. As we look at the evolving landscape, it's clear that the increased priority on privacy and limiting user data sharing is not a temporary fad. It represents a fundamental shift in how people and society expect online experiences to protect their privacy. And the data backs up that this shift is happening. 80% of users believe that data protection is very important. And this year, we can expect 65% of the world's population to be covered by modern privacy regulations. So it's clear that the current system of online advertising, which was built on legacy technologies developed decades ago, like third party cookies, is now falling short of users' expectations. And it's imperative that as an industry, we respond to this by developing durable products with privacy at their core, proud by technology innovation that enables businesses to succeed online. Our vision for Private Sandbox involves both rethinking and building together. We are rethinking Chrome and Android as platforms for privacy, while working with the industry to develop internet and app experiences with privacy at the core. To do this, the ecosystem is developing new approaches, including purpose-built technologies to support key use cases in privacy-preserving ways. At the same time, the industry is innovating to offer privacy-forward solutions, combining privacy-safe signals and first-party data, all powered by machine learning. And we're doing this in a transparent, open, and collaborative fashion, consulting with stakeholders from across the industry to ensure that this vision works for everyone. This is a big and complex undertaking for the industry, with a wide range of technologies covering multiple use cases, not just advertising. The aim is to provide better alternatives for legacy technologies like third-party cookies so companies can continue to build digital businesses while protecting user data. It's really vital to have these privacy-preserving alternative paths that support the needs of the ecosystem. If we don't, we risk an increase in unwanted tracking. For example, device or browser fingerprinting that tracks users across sites and apps without any controls. So it's important that we avoid such an outcome as we work hard to face out legacy technologies and strengthen user privacy. From an ad's lens, as we develop privacy-preserving advertising solutions, the Privacy Sandbox will be one of the building blocks. However, it is not a standalone solution on its own. Building a more private internet requires innovation from across the industry. We expect that companies will use Privacy Sandbox in combination with other privacy-safe signals, including first-party data and contextual. Machine learning and AI also have a key role to play in helping developers derive the maximum value from these signals to drive their customers' goals. There really is so much opportunity for innovation ahead of us. Much like what happened in the automotive industry, we're really excited to see how companies adapt their solutions to meet the moment before us. So what does the roadmap look like and what can you expect? At a high level for Chrome, 2022 was about early technical integration, launching the technologies for technical testing and having the ad tech companies effectively kick the tires on them. Android joined the Privacy Sandbox Initiative in February 2022 and is implementing similar ads technologies as Chrome on their platform. They started a bit later on the journey, but are catching up quickly. Now, let's look at 2023. The focus for 2023 is on early solution testing as the ad tech companies start embedding the Privacy Sandbox technologies into their future solution sets. For the first half of the year, you'll be very much test and learn. We expect the testing to be focused on individual APIs to give directional utility learnings. There will be a range of results in these early tests as developers bring their unique methodologies, approaches, and learnings. And we're looking forward to feedback in this timeframe to help understand how specific parameters of the API proposals influence results. In the second half of the year, we'll launch the technologies to all Chrome users worldwide, which will enable testing of the Privacy Sandbox technologies at scale in combination with each other and across the ecosystem. At this point, ad tech companies will have integrated these APIs into their solutions alongside the rest of the privacy-observing capabilities that are available. With this, we'll gain meaningful insights into the results for marketers and publishers in a world without third party cookies. And at this stage, we'll also have scaled, coordinated testing across the industry. The UK's Competition and Markets Authority, the CMA, recently proposed a framework for such a program, and we look forward to working with the CMA and the rest of the industry on this effort. Looking further ahead, 2024 will be about preparation for third party cookie deprecation. After launching the Privacy Sandbox technologies this year, there will be a full year to integrate these solutions and optimize the results. We will continue to improve the technologies in this timeframe as well. So, how can you get involved? For most of the APIs, third party providers are the main testers. So for the ads APIs on Chrome and Android, these would be the ad tech companies and SDK providers. We'll have three steps to the testing. First of all, Chrome and Android make the early technologies available for testing. Second of all, the ad tech companies and SDK providers do the early technical testing. And step three is where most companies will get involved, i.e. if you're a publisher, advertiser, or app developer, with the tests that the ad tech and the SDK providers will conduct. At this point, we will move from the technical backend testing to understanding early insights on utility in the first half of 2023. So there will be different stages of utility testing. First on the individual APIs, which will only give directional insights. And then in the second half of 2023, as part of the full solution set that the ad tech companies will use in the future. So with third party cookie deprecation in Chrome taking place next year, what should you do? If you are an ad tech company, an SDK provider, or integrator of the non-apps APIs, now is the time to focus on your future strategy and testing. Be much on your future solution set with privacy as a priority and test the Privacy Sandbox APIs. If you are a marketer, publisher, or app developer of any size, now is the time for you to develop your own vision for how your company will meet the evolving ecosystem expectations on privacy. Ask yourself, what kind of solutions meet your needs and what are your expectations on your vendors and partners when it comes to privacy? And do encourage your providers to test the Privacy Sandbox APIs. Finally, trade bodies and agencies will also play an important role in the privacy forward future by coordinating testing across companies and driving thought leadership in this space. We are truly grateful for the companies who are joining us to advocate for a privacy-first future by testing the proposals, giving us feedback to ensure these technologies work well for the ecosystem and joining the public conversation to shape the future we want to build together. We also have hundreds of companies participating in public forums in the web standards for EW3C, on GitHub, whether they're publishing perspectives and analysis, joining industry roundtables and sharing feedback with Chrome and Android. Huge thanks to all of you for your investment in making the future more private. Our invitation to all of you is simple. Get involved in rethinking and shaping the future. This is not a time for you to watch from the sidelines. So play your part in helping the industry transition to a future that is safer for people, successful for publishers and stronger for businesses. Thank you.