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92% Of IT Jobs In Cyprus Set To Transform Due To Artificial Intelligence

by THEFUTURE.TEAM

August 26, 2024

The rapid advancement of artificial intelligence (AI) is poised to transform nearly all aspects of the information technology (IT) sector in Cyprus. According to a recent study, an astounding 92% of IT jobs in the country are expected to undergo significant changes due to AI integration. This transformation is not just about automating routine tasks; it extends to redefining job roles, enhancing productivity, and creating new opportunities that require advanced skills in AI and related technologies.

The IT sector in Cyprus, which has been a critical driver of the country’s economic growth, now faces a pivotal moment. As AI technologies such as machine learning, natural language processing, and robotic process automation become more prevalent, IT professionals will need to adapt quickly. The demand for traditional programming and support roles is expected to decline, while new opportunities will emerge in areas like AI development, data science, cybersecurity, and AI ethics.

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This shift presents both challenges and opportunities for the Cypriot workforce. On the one hand, there is a pressing need for reskilling and upskilling to ensure that the current workforce can transition into these new roles. Educational institutions, businesses, and the government must collaborate to provide training programs that equip IT professionals with the necessary AI-related skills. On the other hand, the integration of AI into the IT sector also opens up possibilities for innovation and entrepreneurship, as new business models and services driven by AI technology are likely to emerge.

Moreover, the broader impact of AI on the IT sector in Cyprus is expected to resonate across other industries as well. As businesses in sectors like finance, healthcare, and logistics increasingly adopt AI-driven solutions, the demand for IT services that support these technologies will grow. This interconnectivity underscores the importance of preparing the Cypriot workforce not only for changes within the IT sector but also for the wider implications of AI across the economy.

In conclusion, the anticipated transformation of 92% of IT jobs in Cyprus due to AI represents a major shift that requires proactive planning and investment in human capital. By embracing this change and focusing on education and innovation, Cyprus has the potential to strengthen its position as a competitive player in the global digital economy. However, the success of this transition will depend on the collective efforts of all stakeholders to ensure that the workforce is prepared to meet the challenges and seize the opportunities presented by the AI revolution.

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Jumbo Group Navigates Market Challenges With Steady Growth In Early 2026

Robust Growth In Cyprus And Greece

Jumbo Group reported positive sales growth at the start of 2026, with revenue in Cyprus increasing by 3% in February and by 6% during the first two months of the year. The company noted that results were achieved despite a strong comparative period in 2025, when the carnival season boosted demand across several product categories.

Region-Specific Challenges And Opportunities

Network sales in Cyprus, including the online store, declined by 1.8% in February. However, cumulative sales for January and February still recorded a 4% increase compared with the same period last year. In Greece, the group’s net sales, excluding intragroup transactions, rose by 6% in February and by 8% during the first two months of the year. Bulgaria also reported strong growth. Sales increased by 7% in February and by 11% during the January–February period. Romania was the only market to record a decline. Network sales there fell by 3% in February and by 4% during the first two months of the year. The company attributed the slowdown to currency depreciation, higher VAT and new fiscal measures, alongside inflation that reached 9.6% in January.

Strategic Expansion And Geopolitical Influences

Jumbo continues to expand its presence through international partnerships. In Israel, the group’s collaboration with Fox Group led to the opening of the fifth Jumbo store in the market. At the same time, rising geopolitical tensions in the Middle East are beginning to influence consumer sentiment in the region, creating additional uncertainty for retail activity.

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Resilient Supply Chains And Commitment To Shareholders

The company said it has managed disruptions in international transport and supply chains through previously secured agreements with suppliers and logistics partners. The stronger euro compared with the previous year has also supported purchasing conditions. Following an extraordinary general meeting held on February 4, 2026, Jumbo announced an extraordinary cash distribution of €0.50 per share before tax. The ex-dividend date is set for March 23, 2026, while payments are scheduled to begin on March 30, 2026.