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Cyprus AI Strategy 2032 Faces Calls For Funding And Clear Accountability

by THEFUTURE.TEAM

September 4, 2026

The Cyprus Computer Society (CCS) has urged policymakers to turn Cyprus’ National Artificial Intelligence Strategy 2032 into a funded implementation plan with measurable outcomes, saying ambition alone will not create a competitive AI economy.

In its public consultation submission, CCS welcomed the strategy as a step toward a coordinated national approach to AI and credited Chief Scientist Demetris Skourides and the National AI Taskforce for developing the framework. Skourides’ LinkedIn profile

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From Strategy To Implementation

CCS submitted 33 recommendations covering implementation, governance, infrastructure, skills, responsible AI and economic development. It said the strategy addresses the main areas but now needs clear mechanisms to deliver measurable results.

A Funded Plan With Clear Accountability

CCS called for a single, costed implementation plan specifying investments, funding sources, timelines and spending for major programs. It also wants clearer accountability over implementation, including responsibility for budgets, underperforming initiatives and missed national targets.

Public Procurement Could Support Local AI

The society proposed using public procurement to help stimulate local AI innovation, with the state acting as an early customer for Cypriot startups and small and medium-sized enterprises. Early contracts could give local companies reference customers, help validate their products and support expansion into international markets.

Measuring AI’s Economic Impact

CCS called for an economic scorecard covering AI-related exports, revenue generated in Cyprus, locally created intellectual property, private investment, high-productivity jobs and research commercialization. The society said these measures would provide a clearer assessment of whether the strategy is generating economic value.

Skills Need To Match Demand

CCS questioned whether a target of about 3,000 AI professionals is sufficient without a clearer assessment of workforce needs. It recommended distinguishing between researchers, AI engineers, data specialists, applied AI professionals and sector-specific experts, arguing that training numbers alone do not show whether the right skills are reaching the economy.

Governance For Generative AI And AI Agents

CCS also called for a governance framework covering the use of large language models in government, confidential information, AI-agent actions, reliability, copyright, synthetic content, deepfakes and human oversight. As these systems move into operational use, the society said Cyprus needs rules that address their expanding role and associated risks.

Human-Centered And Inclusive AI

The recommendations include algorithmic bias assessments, stronger AI literacy, accessibility requirements for citizen-facing services and greater participation by women and underrepresented groups. CCS also proposed stronger representation of equality mechanisms and people with disabilities in national AI governance.

Success Will Be Measured By Results

CCS said the strategy should ultimately be judged by outcomes such as higher productivity, improved public services, a stronger AI workforce, successful technology companies, increased exports and research commercialization.

Cyprus Computer Society is a professional, scientific and independent non-profit organization representing more than 1,500 members in Cyprus’ information technology sector. It promotes digital skills, education, research and professional standards and participates in European and international technology projects.

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EU Agrees On Major Overhaul Of Financial Market Supervision

by THEFUTURE.TEAM

October 9, 2026

European Union finance ministers have reached agreement on a sweeping package designed to strengthen oversight of the bloc’s financial markets, in a move aimed at reducing fragmentation and improving the flow of capital across borders.

A Push To Deepen Capital Markets

The Market Integration and Supervision Package, or MISP, would grant the European Securities and Markets Authority direct supervision over major market operators that are currently regulated by national authorities. The reforms are intended to make Europe’s capital markets more integrated, more efficient and better able to channel savings into productive investment.

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According to the Irish presidency, the package is meant to help savings and investments move more freely across the European Union, improving access to finance for companies while giving households broader opportunities to earn returns on their savings.

What The Reform Would Change

Under the new framework, ESMA would take direct oversight of key trading venues, clearing houses, securities settlement bodies and crypto-asset service providers. The package would also establish a permanent, independent executive board within the regulator, strengthening its institutional capacity.

Market operators would be able to opt into a new EU-wide operating framework. In parallel, the reforms would seek to make national supervision more consistent and update rules governing trading, transaction completion, investment management and the use of blockchain technology.

Why The Agreement Matters

Supporters of deeper capital markets argue that Europe has long paid a price for regulatory inconsistency. While many rules are harmonised across the bloc, differences in enforcement and supervision have contributed to a patchwork system that can make cross-border investment slower and more costly.

A more integrated framework, proponents say, could lower costs for companies seeking funding and broaden the menu of investment options available to savers and institutional investors alike.

Outstanding Questions Remain

Despite the broad agreement, some important details remain unresolved. Trading venues operated by Deutsche Börse, the company behind the Frankfurt stock exchange, may remain outside ESMA’s direct supervision.

Euronews previously reported that Germany had secured an exemption for Deutsche Börse’s domestically focused trading venues, leaving part of the system under regional supervision. The latest announcement did not clarify whether that arrangement will stand.

A Step Forward For The Savings And Investments Union

Dutch Finance Minister Eelco Heinen welcomed the deal, calling it a major advance for the Capital Markets Union and saying Europe had made more progress in 10 months than in the previous 10 years.

The agreement is an important milestone in the Savings and Investments Union, the EU’s broader effort to channel more of Europeans’ savings into investments that can support growth, innovation and competitiveness across the bloc.