Digital Cyprus Conference addresses artificial intelligence integration

The Digital Cyprus Conference took place on Tuesday in Nicosia, focusing on the adoption of artificial intelligence (AI) in the real economy. Deputy Minister of Research, Innovation and Digital Policy, Nikodimos Damianou, stated that AI is now a significant economic, industrial, and geopolitical issue. Damianou emphasized that the focus is shifting from theoretical model development to practical application and regulation. According to the Deputy Minister, the European Union is currently prioritizing the development of infrastructure, skills, and investment, especially for small and medium-sized enterprises. He reported that the technology sector currently contributes over 15% of Cyprus's GDP, with 30% of foreign direct investment directed toward information and communication technologies. Furthermore, Cyprus has achieved 100% coverage in 5G networks and 95% in fiber optic networks. The government intends to leverage this digital readiness to further integrate AI technologies across various sectors.