Thank you, Chair.
Welcome, everyone.
It's not lost on me that as you folks are giving your presentations, literally millions if not hundreds of millions of people—your clients or customers—are using your services as we do this panel. They are benefiting from those services for productivity purposes and being connected. Obviously, AI is driving a lot of that.
There are a lot of positives going on with artificial intelligence that people benefit from every day without even thinking twice about it. It's something that we obviously are looking at and have looked at for two years now. It requires, in my view, guardrails, if I can use that term, or safeguards.
A few terms have been brought forth: content moderation or ecosystem, and high impact versus low impact. I'm going to try to keep this at a high level.
In terms of the differentiation between high-impact and low-impact systems, where is the right balance? I'll take us back to an accounting approach, where you have principles that are very prescriptive. How do we strike a balance between high impact and low impact when we're reviewing AI so that we're not spending a ton of bureaucracy or time capturing the low-impact systems, which in and of themselves are quite beneficial for consumers and companies?
I'll start with Nicole; then we can go across and go online.