Otherwise, you get more of this innovation theater on one side, and then you get the financial backlash that'll follow it.

Yeah, I think that's absolutely right.

And one thing I'm absolutely sure about is that we're going to see many more companies having to curb staff usage of LLMs in the coming months as their costs balloon.

And I think one of the reasons is many companies are only just now beginning to give employees their access to some models other than just Microsoft Copilot.

So that seems to me to be inevitable.

I think you're absolutely right, Justin.

I think a couple of things... that need to be done here are firstly to make those costs much more visible to people.

When do quick wins become a distraction?

So are supply chain leaders and consumers actually out of the woods or are they just in the eye of the storm? And more importantly, if consumers aren't feeling the pain yet, Does that mean industrial buyers and manufacturers aren't either? Garen, why don't you get us started?

Well, I think consumers have been feeling some pain, particularly when they fill up their cars with gas, petrol or diesel.

Pump prices in the US have risen by up to 30% to over $4 a gallon.

While here in the UK, where I'm based, prices have certainly gone up, maybe a bit more modestly, but still more than 15%.

But you're right, Cody.

I mean, the impact of supply chain shocks is typically less visible and or takes much longer to play out than crude oil prices.

For example, we asked supply chain leaders last year about potential price increases that their companies might make in the wake of President Trump's global tariffs announcement.

Given developing regions feel the brunt of these supply chain disruptions almost instantly, for a global brand, how do you manage a network that is moving at two completely different unequal speeds?

What's driving that anxiety? Is it the threat of external bad actors or is it something else? I'd love to hear from you, Garen.

Yeah, I think Kevin's right when he talks about these new threats in the kind of the agentic area.

And we'll obviously come on to that and discuss that in a moment.

But I think the actual events, the actual cyber attacks are driving a lot of this anxiety.

If we think about even just the past 12 months, we've seen major cyber attacks on companies like Jaguar Land Rover here in the UK.

Marks & Spencer, a big retailer, also here in the UK.

So in the case of Jaguar Land Rover, I mean, that attack last September closed their production lines for well over a month.

How do they compare to the more traditional JLR style external breach?

So I'm curious, Gerant, when you analyze the data, you know, did a clear dividing line emerge between the winners and everyone else? What are those resilience leaders actually doing? What's new? What's separating them from companies that are just reacting to each new crisis?

Yeah, so we ran the survey among a hundred supply chain leaders in February, just before the Iran war kicked off.

And there are certainly some things that we see leaders, and by leaders I mean those that are a little bit more further ahead on the roadmap.

We call it our capability matrix.

So we ask people to kind of self-assess themselves, and then we divided them into kind of leaders and followers.

So there are certainly some things that leaders do differently.

Examples of that would be things like factoring risk considerations across all their supply chain functions fairly equally, designing their networks around long-term geopolitical assumptions, so really kind of leaning into that and placing bets.

So Garren, based on the research, based on what we see out of this report, what are the three to four concrete plays that resilience leaders are running that everyone else should be adopting?