Sundar Pichai: Thanks, Eric. Look, I do think, first of all, we made such a foundational technology and we’ve been investing not just in terms of research, but actually getting it all production scale-ready. We had already deployed. If you look at the impact, things like BERT and MUM had on search quality, making search multi-modal, driving the usage of products like Google Lens. I feel like we’ve been scaling up well. In Google Cloud today with Vertex AI, we’d already been bringing AI APIs to enterprises, and they’re on a pretty healthy growth path. So we do see secular opportunities ahead, both in terms of putting these APIs out, making sure every developer, every organization in the world can use it. And as I said earlier, we are in very, very early days and I think there’s a lot of room ahead.
In terms of Search too, now that we can integrate more direct LLM type experiences in Search, I think it will help us expand and serve new types of use cases, generative use cases. And so I think I see this as a chance to rethink and re-imagine and drive Search to solve more use cases for our users as well. So again, early days, you will see us be bold, put things out, get feedback and iterate and make things better.
Ruth Porat: And then in terms of your question about Other Bets investment levels, so as we’ve talked about in prior calls, our goal for Other Bets is to use our deep technology investments to drive innovation with real potential for value creation. And at the same time, we are very focused on the overall pace of investment and the financial returns. And so what we’re really looking at here are what are the opportunities for monetization and commercialization. As I’ve said on prior calls, there is no monolithic approach across the portfolio, but we are very focused on whether €“ what’s the pace of investment opportunities for monetization and commercialization. And just a bit more with respect to the DeepMind move, to be very clear, we consolidate in Other Bets into Google only when that bet supports products and services within Google or for Alphabet broadly.
And you saw us do that, some time ago when we moved Chronicle as an example into combining with our Cloud business and really the cybersecurity offering that is now in Cloud, and that was very effective. With AI, this is obviously an Alphabet strategic priority, and we see huge opportunity ahead, and DeepMind’s research is core to that future across the product areas in Alphabet portfolio. And so this reporting change reflects the strategic focus in DeepMind, the support of each one of our segments, and that’s why I indicated that beginning Q1, DeepMind financials will be reported within our corporate cost segment.
Eric Sheridan: Thanks so much.
Operator: Our next question is from Justin Post with Bank of America Merrill Lynch. Your line is open.
Justin Post: Thank you for taking my question. Just digging into Search, low single-digit growth ex-FX. Can you talk about the pressures there, volume versus pricing or CPCs? What’s really driving the slowdown? It’s almost back to 2009 recession levels. Just think about that. And then any signs that we’re near a bottom? Any stabilization in growth rates you can talk about or how your outlook is for 2023 on that? Thank you.
