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Cyprus Introduces Performance-Based Funding For Public Research

by THEFUTURE.TEAM

July 24, 2026

Cyprus is introducing a new performance-based funding model for publicly financed research organizations, linking state support to measurable results for the first time.

A New Framework For Research Funding

Approved by the Cabinet on Wednesday, the new mechanism establishes a more structured framework for funding public research organizations. Deputy Minister of Research, Innovation and Digital Policy Nikodimos Damianos said the system is expected to take effect in early 2027.

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First Phase Targets Centres Of Excellence

The first phase will cover Centres of Excellence co-financed through the Horizon Europe Teaming for Excellence programme with national and European funding.

According to Damianos, the objective is to preserve and further develop the research infrastructure, expertise and capabilities built in recent years, while supporting their transition into sustainable, long-term institutions under a formal funding framework.

Funding Tied To Performance Indicators

Under the new model, funding will be linked to performance against predefined indicators and targets. Organizations will be assessed across 18 indicators grouped into six areas: the research environment, internationalisation, scientific excellence, research performance, knowledge transfer and socio-economic impact.

Performance will be evaluated annually, while funding allocations will be reviewed every three years. The framework also introduces fiscal safeguards, including funding caps, assessments of each organisation’s actual financial needs and consideration of any other institutional state funding already received.

Positioning Research As A Strategic Public Investment

Damianos said the reform lays the groundwork for a new model of institutional support for research and innovation, aimed at strengthening scientific excellence and competitiveness while ensuring the transparent and efficient use of public funds.

He added that the framework is intended to support long-term benefits for both the Cypriot economy and society.

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Retail’s AI Push Faces A Cybersecurity And Regulatory Reality Check

by THEFUTURE.TEAM

October 19, 2026

Artificial intelligence is becoming a strategic priority for retailers, with 80% of retail leaders planning to increase investment in the technology, according to EY’s latest CEO Outlook Survey. However, growing concerns over cybersecurity, customer privacy and regulation could complicate adoption across an industry already facing inflation, geopolitical uncertainty and changing consumer expectations.

Confidence In AI Comes With Risks

The survey found that 80% of retail leaders are confident in their ability to expand the responsible use of AI and customer data. Retailers are increasingly applying the technology to demand forecasting, inventory management, customer service and personalised marketing, seeking to improve efficiency and respond more quickly to market changes.

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Yet adoption brings new vulnerabilities. EY found that 24% of retail leaders identified cybersecurity and data privacy as a leading business risk for the year ahead. Retailers manage sensitive customer information, payment systems and complex supply chains, making effective security and governance essential as AI becomes more deeply embedded in their operations.

The World Economic Forum’s Global Cybersecurity Outlook 2026 highlights the wider challenge: 87% of organisations reported rising cyber risks linked to AI vulnerabilities, while 94% expected malicious AI to have a significant impact on cybersecurity in 2026.

Regulation Will Shape AI Adoption

Regulatory frameworks are also influencing how quickly retailers can expand their use of AI. The European Union’s AI Act, China’s state-led governance model and measures introduced by individual US states are shaping the rules around the technology.

For retailers, compliance is becoming a strategic consideration, particularly for customer-facing applications that use personal data to personalise offers, automate interactions or analyse consumer behaviour. Regulatory missteps could carry significant costs in a sector where customer trust is critical.

EY Outlines Four Possible Futures

EY recommends that retailers plan for multiple outcomes rather than assume the current investment boom will continue uninterrupted. Its analysis draws on a four-scenario framework developed by Jim Dator of the University of Hawaii.

One scenario envisages constrained AI adoption as economic pressures, regulation, cyberattacks, legacy systems and poor data quality limit progress. Retailers in this environment may prioritise lower-risk back-office applications, such as finance, procurement, inventory and logistics, while customer-facing tools face resistance.

A second scenario anticipates continued growth, with sustained investment and widespread adoption. A third envisages deeper economic and social transformation as technology reshapes business operations. The fourth considers systemic breakdown, in which a small number of technology platforms control access to AI models and charge premium prices, potentially making advanced capabilities less accessible even to large retailers.

Governance Will Determine Competitive Advantage

EY’s findings suggest that investment alone will not determine which retailers benefit most from AI. Companies will also need robust cybersecurity, effective governance and strategies that can adapt to different economic, technological and regulatory conditions.

For a sector operating on tight margins, the challenge is to turn AI investment into lasting business value while managing the risks that come with greater dependence on the technology.