Xero chief executive Sukhinder Singh Cassidy joins Peter Switzer to argue the market's AI sell-off has lumped the wrong companies together. She walks through Xero's latest result (close to NZ$2.7 billion in revenue, growing north of 30% with profit up 18%), why she sees Xero as AI-forward rather than AI-threatened, and what happened when she asked Claude to rebuild Xero from scratch. She also makes the case for the Melio acquisition, Xero's push into bill payments, and how a number-two brand keeps winning share against Intuit in the United States.