James, can we talk a bit more about the threats to supply chains? How does all of this uncertainty translate into the physical supply chain and trade?

Sure, thanks, and following on from the themes, um, Lu has just mentioned, global business practice and government policies together with increased volatility are certainly reshaping trade and supply chains.

Meanwhile, we are seeing regulators around the world testing the banking sector's readiness to handle these geopolitical shocks and how these shocks will impact the economy and bank operations.

That combination, we see, is increasing both client demand and a need for prudent risk management.

What we're focusing on and what we're seeing a lot more of is working capital finance as corporates manage less predictable cycles.

We're seeing a shift from the more traditional approach of just-in-time supply chain management to just in case, where companies and customers are recognizing that supply chains are being disrupted.

There may be shortages of certain goods and, and other products, so just in case makes sense to make sure they've got inventory on water or, or in storage.

Does AI stand to change any of this?