00:00AI innovation, what it could do for humanity is huge, and the only way to do it is by having
00:04a very strong foundation and a strong investment process, and it's a marathon, you check your pulse along the way.
00:11Mark Rowan, how should we deploy capital differently today than we did five years ago?
00:16Look, the drivers today are different. I think getting just out of the region, everywhere in the world, we are
00:22building energy, we're doing energy transmission, we're doing energy transition, we're building infrastructure,
00:27we're building next-gen manufacturing, we're ramping defense, oh, and we're also doing AI and data. In short, we're spending
00:34every dollar, euro, pound since the invention of FHIR.
00:39The demand for capital is overwhelming, and I think capital will go wherever it is respected.
00:49And so lots of demand, really driving our businesses, driving what you do, and driving what you do.
00:58David Solomon?
01:00I think Mark said it very well, capital drives what we all do, and at the end of the day,
01:06capital looks for opportunity.
01:08You know, I'm a pretty optimistic guy. There's certainly a lot of friction in the world at the moment, but
01:13there's enormous opportunity.
01:14And you see it across all sectors as economies continue to evolve, and capital goes to places where it's needed
01:23to drive positive results, growth, good economic outcomes.
01:27And I think one of the things that we've all come to understand is there is an abundance of capital.
01:32Capital is a commodity.
01:34What's not a commodity is ideas, locales, security, innovation, open markets.
01:42You know, those are the things that attract capital at the end of the day.
01:45Good governance.
01:46Good governance is another one I've put on the list for sure.
01:48On AI, David, I mean, how does AI compare to prior industrial revolutions, like beyond the semiconductors and the hyperscalers?
01:56Like, how do you invest in this?
01:59We're in a technology super cycle.
02:01There are extraordinary opportunities.
02:02I think one of the things that's important to think back on and reflect on whenever we have a new
02:08technology that's driving capital and innovation,
02:11and I would be the first to say the pace of this technology has been very, very quick,
02:17but I also think you have to look that we're changing the way the technology is deployed in the enterprise
02:23and governments and in the economy.
02:24It's going to take 10, 20 years to really see the results of that and the impact of that.
02:30And so we get caught in the moment of what's going on at the moment,
02:34but what we really have to step back and understand is that this technology is going to do extraordinarily positive
02:39things for our society.
02:41There are incredible opportunities that come from it.
02:43There also are issues and processes and guardrails and governance, to use Mark's term here,
02:52that we have to really think about carefully.
02:53And that's not something that's going to be solved next week, next month, or this year or next year.
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