The use of Artificial Intelligence (AI) and Information and Communication Technologies (ICT) continues to rise among businesses in Cyprus, with large enterprises leading the trend. The findings were published in the 2024 Statistical Service of Cyprus survey on ICT and e-commerce in enterprises.
AI Adoption Trends
The adoption of AI has grown significantly in recent years. In 2024, 7.9% of all businesses in Cyprus utilized AI technologies, compared to 4.7% in 2023. Large enterprises showed the highest adoption rate, with 34.9% integrating AI systems. Medium-sized businesses followed at 14.3%, while small enterprises trailed with a 6.3% adoption rate.
AI systems encompass technologies such as machine learning, text mining, natural language processing, and computer vision, which assist businesses in analyzing data, predicting trends, and automating decisions.
Large enterprises have consistently led this growth, with adoption rates increasing from 13% in 2021 to 15.5% in 2023 and nearly tripling to 34.9% by 2024.
Remote Work and ICT Accessibility
Remote working capabilities have become a cornerstone of business operations. In 2024, 84.1% of enterprises with 10 or more employees equipped their staff with portable internet-enabled devices. Most of these businesses covered at least part of the subscription costs.
Additionally, 88.1% of companies offered remote access to email systems, 71.7% provided access to files and documents, and 66.3% extended access to business applications such as accounting or customer relationship management (CRM) tools. Remote meetings have also become mainstream, with 59.1% of businesses conducting online meetings using platforms like Zoom and MS Teams.
E-Commerce and Online Advertising
Digital commerce has continued to expand, with 23.5% of businesses receiving orders for goods or services online in 2023. These orders were facilitated through company websites or apps (17.1%) and e-commerce marketplaces (14.2%).
Online advertising also witnessed a surge, with nearly half (49.4%) of businesses investing in internet-based marketing in 2024—a figure nearly double that of 2016. Of these, 43.5% focused on location-based targeting, 38.4% used keyword-based ads, and 28.7% relied on user activity tracking.
ICT Specialists and Skills Development
In 2024, 27.5% of Cypriot businesses employed ICT specialists, with large enterprises leading the way at 85.8%, followed by medium (49.6%) and small businesses (22.8%). Despite the demand, many enterprises (6.4%) faced challenges filling ICT-related vacancies in 2023.
While businesses recognize the importance of ICT skills, training remains limited. Only 15.3% of enterprises trained ICT specialists, and 27% provided ICT training for other employees in 2023.
ICT Security Measures
Security remains a priority for enterprises adopting digital technologies. Popular measures include strong password authentication (95%), data backups to external or cloud locations (90%), user access control (73.9%), and VPN usage (67.3%). Over half (56%) of enterprises deployed ICT monitoring systems to detect suspicious activities.
The increasing reliance on ICT underscores its critical role in modern business strategies. As businesses continue to embrace technology, the survey highlights the potential for growth and the challenges to be addressed, particularly in skill development and security.
Source: Stockwatch Cyprus