Ann: Trading update, cost reduction program and strategy refresh, page-176

Appen needs time - how much time? We don't know but its heavily concentrated towards Big Tech and Big Tech advertising models are coming unstuck. Don't think digital ad spend will provide growth rates greater than 10% pcp moving forward. Keeping this business is critical to the company however (take out product development and associated costs like data scientists and engineers becomes a very profitable business) - generative AI expenditure will expand as interest rate environment improves. The generative A.I /LLM deals are not too far away imo. Let the market do what the market thinks it's right - couldnt care less - prefer its $4 than $2 obviously but can't control the short sightedness.