AI’s Dual Impact on Workplace Equality: Challenges and Opportunities

by News Editor

May 5, 2025

The rapid rise of Artificial Intelligence (AI) is presenting leaders with the challenging task of prioritizing human resource needs while pursuing profitability.

Key Insights from Industry Leaders

Corporate responsibility is heightened as AI may increase unemployment and exacerbate inequalities, according to Pedro Uria-Rescio, CIMB Group’s Chief Data Scientist, speaking at the GITEX Asia 2025 conference.
Uria-Rescio emphasized that companies should not only equip employees with AI-related skills but also create new job opportunities in light of ongoing technological shifts.
The UN’s trade agency has cautioned that AI could affect 40% of jobs globally, deepening the disparity among nations.

Navigating the AI Revolution

The AI revolution is reminiscent of past technological upheavals, such as the internet boom. While AI is often touted for boosting efficiency, its broader implications need careful management. Uria-Rescio argues that businesses should adopt an ‘AI-first’ mindset without sidelining human involvement.

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Balancing People and Profits

The Microsoft Trend Index 2025 reveals that 82% of business leaders are confident about leveraging digital labor to extend workforce capabilities, with 78% exploring AI specialist hiring. Meanwhile, 47% prioritize upskilling current employees.

Human Element in Focus

Despite the concerns, experts remain optimistic about AI’s societal role. Tomasz Kurcik from Prudential Singapore believes AI can democratize opportunities, potentially revitalizing traditional crafts and generating new job prospects. Successful adaptation relies on collaborative efforts among educational institutions, governments, and corporations to mitigate emerging inequalities.

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Foreign Firms Contribute €3.5 Billion To Cyprus Economy In 2023

by THEFUTURE.TEAM

November 12, 2025

Recent Eurostat data reveals that Cyprus remains an outlier within the European Union, where foreign-controlled companies contribute minimally to the nation’s employment figures and economic output. While these enterprises have a substantial impact in other member states, in Cyprus they account for only 10 percent of all jobs, a figure comparable only to Italy and marginally higher than Greece’s 8 percent.

Employment Impact

The report highlights that foreign-controlled companies in Cyprus employ 32,119 individuals out of a total workforce that, across the EU, reaches 24,145,727. In contrast, countries such as Luxembourg boast a 45 percent job share in foreign-controlled firms, with Slovakia and the Czech Republic following closely at 28 percent.

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Economic Output Analysis

In terms of economic contribution, these enterprises generated a total value added of €3.5 billion in Cyprus, a small fraction compared to the overall EU total of €2.39 trillion. Notably, Ireland leads with 71 percent of its value added stemming from foreign-controlled firms, followed by Luxembourg at 61 percent and Slovakia at 50 percent. On the lower end, France, Italy, Greece, and Germany exhibit values below 20 percent.

Domestic Versus Foreign Ownership

The data underscores Cyprus’s heavy reliance on domestically controlled enterprises for both employment and economic output. However, it is important to note that certain businesses might be owned by foreign nationals who have established companies under Cypriot jurisdiction. As a result, these firms are classified as domestically controlled despite having foreign ownership or management components.

Conclusion

This analysis emphasizes the unique role that foreign-controlled enterprises play within the Cypriot economy. While their overall impact is limited compared to some EU counterparts, the presence of these companies continues to contribute significantly to the island’s economic landscape.

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