was at our customers. And, you know, we're doing our best to try to triangulate about how we think that'll come out between Q3 and Q4. Our view right now is a quarter or so of that comes out in the third quarter, and we've got a little bit of hangover the rest of that in the fourth quarter. Again, it's a little tough to call, especially given how much of that stocking happened in Europe where we've seen the bulk of the inflation and the impacts there, especially with the holiday period that starts in August. So we'll see how that settles out. But that's our best case best guess right now on what we're seeing so far in July and how we think that plays out and what we're hearing from our customers through the rest of the quarter.
Yeah, and George, on your question, is AI an accelerator for IL? Yes, I believe it is, absolutely. And maybe I'll just give you a slight context that I still think the biggest secular trend we're going to see over the next five or so years is the continued digitization of industries and of items. And if you think about it from an IL perspective, every time an item is tagged at source and has data available about how it was made, where it was made, its life through the supply chain into retail, how it gets used in retail, and ultimately to the end in terms of consumer use and disposal, you're generating significantly more data at the item level than ever historically. Now, AI, I think, is going to be an enabler to pass out and make a lot more sense and inference from that data. That's the real benefit it brings. And so in some ways, if you think about it, if AI helps you make more sense of data at, for example, a retail level, you now have much more ability to make more surgical decisions about what you want to do with items, which allows you to expand your ROI based on the work that you've done using IL, which in itself then creates a flywheel for more AI adoption. That's the hypothesis that I have, and I think we're starting to see that play out. I'd say at a stepping back at a more broader level for AI, at least for Avery Dennison. I think I've spoken in the past, George, around we're seeing that both as a driver for efficiency internally and productivity, a driver to help us accelerate innovation outcomes quicker, and then also to help us solve customer problems to accelerate our growth algorithm. We're investing it. We have a chief digital officer that we brought on board, and we've actually dedicated teams just to make sure that the big bets that we're taking will ultimately manifest in driving our growth algorithm or improving our profitability.
Thank you, Ellen. On behalf of everyone at Avery Dennison, I want to thank you all for joining today's call and for your continued interest in our company. As always, we're happy to address any follow-up questions you may have. Thank you again, and this concludes today's conference call.
