Adopting artificial intelligence (AI) technologies is rising among businesses in Cyprus, with large enterprises leading the charge. The Statistical Service of Cyprus‘ 2024 survey on Information and Communication Technologies (ICT) and e-commerce usage across enterprises outlines this trend.
In 2021, only 13% of large enterprises utilised AI, but this figure grew to 15.5% in 2023 and reached an impressive 34.9% in 2024. Furthermore, 59.1% of businesses reported holding virtual meetings, while nearly half (49.4%) of enterprises invested in online advertising in 2024, nearly double the rate observed in 2016.
Artificial Intelligence
AI adoption in Cyprus businesses climbed to 7.9% in 2024, up from 4.7% the previous year. Among large enterprises, AI usage hit 34.9%, compared to 14.3% of medium-sized and 6.3% of small enterprises. These systems leverage cutting-edge technologies, such as machine learning, speech recognition, and computer vision, to analyse data and support decision-making processes.
Remote Work and Connectivity
By 2024, 84.1% of enterprises equipped employees with portable devices connected to mobile networks, covering subscription and usage costs either fully or partially. Remote access capabilities were also robust: 88.1% allowed email access, 71.7% provided access to documents, and 66.3% supported business applications remotely. Online meetings gained traction, with 59.1% of businesses using platforms like Zoom, Teams, and WebEx.
E-Commerce Growth
E-commerce remained a crucial revenue stream, with 23.5% of enterprises receiving orders for goods or services online in 2023. Most orders came through websites or apps, with 17.1% relying on their own platforms and 14.2% using marketplaces. Orders from private customers made up 21.2%, while 11.4% originated from other businesses or public authorities.
Online Advertising
Nearly half of enterprises (49.4%) paid for online advertisements in 2024, compared to just 25.2% in 2016. Targeted ads based on geolocation were favoured by 43.5% of businesses, while 38.4% targeted users by content or keywords. Behavioural tracking influenced 28.7% of advertisements.
ICT Specialists and Training
ICT professionals are essential to business operations, with 27.5% of enterprises employing them in 2024. This figure rises significantly in larger businesses, where 85.8% reported having ICT specialists, compared to 49.6% of medium-sized and 22.8% of smaller companies. Despite their importance, only 15.3% of enterprises offered ICT training to specialists in 2023, with 27% extending training to other staff. Recruitment challenges were notable, as 6.4% of businesses struggled to fill ICT roles.
Cybersecurity Measures
Protecting data and systems is a priority for Cyprus enterprises. Common measures include strong password authentication (95%), data backups (90%), and network access control (73.9%). Virtual Private Networks (VPNs) are used by 67.3%, and 56% employ monitoring systems to detect suspicious activity.
These findings highlight the growing digital transformation among Cypriot businesses, with AI, ICT, and e-commerce becoming integral to their strategies for growth and resilience.
