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The Transformative Potential Of AI: Could It Shape The Global Economy By 2035?

by News Editor
April 30, 2025

AI: A Game Changer for the Global Economy by 2035

Artificial Intelligence (AI) is poised to revolutionize the world economy. According to PwC Cyprus, AI could enhance the global gross domestic product (GDP) by as much as 15% by 2035. Cyprus’s AI Taskforce is already envisioning a future deeply integrated with these technologies.

Path to Economic Growth

PwC’s report, Value in Motion, suggests AI might contribute a 1% annual growth, mimicking the industrial revolution’s impact. However, this growth isn’t predestined. It hinges on technological success, responsible AI implementation, governance, and public trust.

Under scenarios of lower trust, projected growth might only reach 8%, or even drop to a mere 1%. Therefore, widespread collaboration is essential.

Industry Transformation and Climate Considerations

Industries are already realigning. PwC forecasts a shift of $7.1 trillion in revenues among companies by 2025, without even considering tariff impacts. For instance, the healthcare sector in Cyprus might benefit as cross-sector collaborations redefine market landscapes.

Climate change, however, poses a counterbalance. It could contract the global economy by nearly 7% in 2035. Yet, modest improvements in AI’s energy efficiency could negate this impact. A 1% boost in AI adoption need only spark a 0.1% drop in energy use to stay climate-neutral.

PwC’s Strategy for the Future

PwC plans to ride this AI wave through initiatives like launching agent OS, which streamlines AI agent workflows by up to tenfold. Training and expanding partnerships with tech giants such as AWS and Microsoft further bolster their AI endeavors.

Their Network AI Academy now trains over 291,000 individuals. By incorporating tools like ChatPwC and updating their Industry Edge portfolio, PwC is prepared for the AI-driven future.

As Mohamed Kande, PwC’s Global Chairman, states, “Transformative growth will come from tapping into evolving needs and reshaping business operations through technology.” PwC’s newest brand identity echoes this commitment, embodying progress through its redesigned logo and visual style.

Cypriot Government Employment Sees Modest Growth in April

by THEFUTURE.TEAM
May 12, 2025

Total government employment in Cyprus increased by 237 persons, a rise of 0.4 per cent, in April, compared to the same month in 2024, reaching a total of 55,490 employees, according to the state statistical service.

Employment in the civil service and the security forces decreased by 1.2 per cent and 1.1 per cent respectively, while the educational service saw an increase of 3.8 per cent.

Civil Service and Educational Service Breakdown

In April 2025, the civil service employed 11,960 permanent staff, 4,141 employees with contracts of indefinite duration, 1,458 with contracts of definite duration, and 5,798 hourly paid workers.

Permanent employees represented the highest proportion of the civil service workforce at 51.2 per cent, while employees with contracts of definite duration made up the lowest proportion at 6.2 per cent.

In the educational service, there were 12,461 permanent employees, 947 with contracts of indefinite duration, 4,824 with contracts of definite duration, and 141 hourly paid workers.

Permanent staff formed the majority of the educational workforce at 67.8 per cent, while hourly paid workers accounted for only 0.8 per cent.

Security Forces Breakdown

Within the security forces, 8,430 were permanent employees, 4,304 held contracts of indefinite duration, 267 were on definite-duration contracts, and 759 were hourly paid workers.

Permanent employees again made up the largest group in the security forces at 61.3 per cent, with definite-duration contracts representing just 1.9 per cent.

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