1. Personal Christmas Experiences: Both share their holiday experiences, highlighting the importance of downtime and relaxation. Cormac mentions reading books, while Paul reflects on spending a quiet Christmas at home.
2. Economic Outlook for 2024: They discuss the Bank of England's decision to maintain the bank rate and project economic trends like inflation and interest rates. They also talk about the impact of these trends on consumers and businesses.
3. Buy Now, Pay Later (BNPL) Trends: They explore the increase in BNPL usage and the potential consequences, such as missed payments and late fees, especially among younger consumers.
4. Impact of AI and LLMs on Various Sectors: The conversation shifts to the potential for AI and Large Language Models (LLMs) to assist in fields like auditing, customer service, and more, rather than replacing human roles.
5. Challenges of Late Payments for SMEs: They discuss a study by NatWest on the impact of late payments on SMEs in the UK, emphasising the importance of efficient process management and automation in mitigating these challenges.
6. Role of Digital Solutions in Business: The importance of digital solutions in streamlining business processes, especially in financial transactions, is highlighted.
The discussion also touches on the value of understanding customer behaviour, the importance of tone in communication, and the impact of technological advancements across various industries.
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