Thank you very much for the question.
Ms. Denham talked about the European approach as being a first mover. In fact, there's starting to be a wisdom that, while they're a first mover, they're no longer the right approach. The concern is very much that not only is it not the right structure, but that it will impede innovation. The U.K. is very much focused on that. The U.S. executive order on AI is very much focused on that. The reality is that Canadians need access to these tools. If there are impediments to that, it could set us back a lot.
You have to recognize as well that if you have complicated regulations that aren't in place in other countries, it requires Canadian entrepreneurs to make investments that don't have to be made in order to compete in foreign markets. A lot of these companies are small companies. They don't have the resources to sit down with lawyers and figure out how to comply with something that is really difficult. We need to empower them. We need to be sure they're responsible with voluntary codes and to deal with the very high-risk stuff in a thoughtful way.
However, we have to be sure we don't make a mistake in bogging down entrepreneurs and have them move, as they've done in other areas, to the United States where they can start businesses. Then we would lose the income and the people.