Breaking news

Transforming Compliance Into Competitive Advantage: The Strategic Imperative Of AI

by THEFUTURE.TEAM

May 26, 2026

At a recent forum hosted by American Chamber of Commerce in Cyprus, government officials, business executives and technology specialists discussed the growing role of artificial intelligence in competitiveness, regulation and digital transformation.

The event, titled “From Compliance To Competitiveness: The Complete AI Leadership Agenda,” was organized by the Chamber’s Digital Transformation and Fintech Committee and focused on how businesses are adapting to evolving AI regulations and implementation challenges.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Redefining Compliance As A Catalyst For Innovation

Discussions during the forum focused on how regulatory compliance frameworks are increasingly becoming part of broader business and innovation strategies as AI adoption accelerates across industries. Participants examined how organizations can integrate governance, cybersecurity and regulatory standards into AI deployment while maintaining operational flexibility and competitiveness.

Insights From International And Regional Leaders

Fortinet Regional Manager for Cyprus and Head of the AmCham Cyprus Digital Transformation and Fintech Committee Paris P. Savva said AI is becoming a strategic driver of competitiveness for businesses and institutions. Kyndryl Vital Global Lead Khaliq Khan discussed how AI-focused operating models are being used to improve customer engagement, optimize internal operations and expand the use of enterprise data.

Navigating The Complex European Regulatory Landscape

UCLan Cyprus Head of the School of Law Stéphanie Laulhé Shaelou presented an overview of the European Union’s AI Act, including regulatory classifications, compliance requirements and implementation challenges facing organizations operating within the bloc. Her presentation focused on how businesses are preparing for new obligations surrounding AI governance, transparency and risk management.

Panel Discussions Driving Strategic Insights

Moderated by industry trifectas such as Michael Tyrimos of Capacitor Partners and Maria Terzi, CEO And Co-founder Of Malloc Inc, the panel discussions delved into how AI solutions are being scaled and integrated with broader business strategies. Demetris Skourides, Cyprus’ Chief Scientist For Research Innovation And Technology, reiterated that “Cyprus is leveraging AI as a key driver of economic growth and international competitiveness,” a view supported by Deputy Minister Nicodemos Damianou, who stressed the importance of aligning AI adoption with both national priorities and European regulatory frameworks.

Building Collaborative And Ethical AI Systems

Additional discussions focused on data protection, cybersecurity, privacy and the operational challenges surrounding AI integration. Representatives from organizations including Meta, Bank of Cyprus, Eurobank and ECOMMBX discussed approaches to building secure and reliable AI systems. Theodoros Loukaidis, Director General of the Research and Innovation Foundation, also encouraged businesses to utilize national and European programs aimed at supporting AI adoption and innovation. The forum concluded with a networking session focused on future collaboration opportunities across the technology, business and policy sectors.

The Future Forbes Realty Global Properties

Passkeys Are The Gold Standard For Account Security. So Why Don’t More Major Apps Offer Them?

Passkeys are increasingly being promoted as one of the most effective ways to protect online accounts. By reducing reliance on passwords, they help prevent phishing attacks, simplify sign-ins and strengthen account security. Despite those advantages, however, many major digital platforms have yet to adopt the technology.

A Security Upgrade Still Missing At Scale

That gap is the focus of whynopasskeys.com, a new site created by security researcher Scott Helme to highlight companies that have not yet enabled passkeys for their users. The site tracks major consumer brands that continue to rely on older login methods even as passkeys become the industry standard.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Among the services still without passkey support are Instagram, Netflix and Spotify, according to the site’s data.

Why Passkeys Matter

Unlike traditional passwords, passkeys are generated on a user’s device and linked both to that device and to a specific website or application. Authentication can be completed through biometrics such as Face ID or Touch ID, a hardware security key or a password manager.

Because users do not need to create or remember passwords, opportunities for credential theft, phishing attacks and password reuse are significantly reduced. In most cases, gaining access to an account would require direct access to the user’s device.

Public Accountability As A Pressure Tactic

In a blog post explaining the project, Helme said the goal is to create pressure by making the absence of passkey support visible. “A list is a surprisingly effective motivator. Nobody wants to be on the list,” he wrote.

That approach has already worked elsewhere in cybersecurity: when businesses are publicly compared against peers on basic protections, they often move faster to close the gap. In this case, the list is intended to push platforms to give users a stronger and simpler login option.

The Companies Moving Faster

Many large technology companies have already adopted passkeys, including Apple, Google and Microsoft, reflecting the technology’s growing role in account security.

Implementation, however, remains uneven. Instagram users can currently access passkeys only when their account is linked to a Facebook account that already has passkey support enabled, highlighting differences in adoption even within the same company.

The Bigger Business Question

Meta has not publicly explained why passkeys are available on some of its platforms, including Facebook and WhatsApp, but not fully across Instagram.

Debate within the industry is no longer centred on whether passkeys work, but on how quickly companies are willing to deploy them. As phishing, credential theft and account fraud remain persistent cybersecurity challenges, passkeys are increasingly being viewed not as an optional feature but as an emerging security standard.