AmCham Cyprus forum highlights AI as key to competitiveness

The American Chamber of Commerce in Cyprus (AmCham Cyprus) held its Executive Forum 2026 on Monday, focusing on how artificial intelligence is reshaping competitiveness and regulation, bringing together government officials, business leaders and technology experts.

The event, titled ‘From Compliance to Competitiveness: The Complete AI Leadership Agenda’, was organised by the chamber’s Digital Transformation and Fintech Committee and attracted a strong audience from across the public and private sectors.

The forum provided a platform for high-level discussion on how organisations can transform regulatory compliance into a catalyst for innovation and competitive advantage in an increasingly AI-driven economy.

Opening the event, Regional Manager Cyprus at Fortinet and head of the AmCham Digital Transformation and Fintech Committee Paris P. Savva highlighted the growing importance of artificial intelligence.

“AI is becoming a defining driver of competitiveness and a strategic priority for organisations across industries,” he said.

The keynote address was delivered by Kyndryl Vital global lead Khaliq Khan, who outlined a global perspective on AI-powered transformation.

“Organisations are increasingly adopting AI-first approaches to reinvent customer experience, optimise operations and unlock new value through data-driven decision-making,” he said.

Professor of European Law and Reform and head of the School of Law at UCLan Cyprus Stéphanie Laulhé Shaelou provided an overview of the EU AI Act, explaining its core principles, risk classifications and regulatory requirements.

She said the evolving European framework presents both challenges and opportunities for organisations seeking to innovate responsibly while remaining compliant.

The first panel discussion, moderated by Capacitor Partners managing director Michael Tyrimos, examined how AI can unlock innovation and enhance business competitiveness.

Chief Scientist for Research Innovation and Technology Demetris Skourides outlined Cyprus’ strategic approach to innovation.

“Cyprus is leveraging AI as a key driver of economic growth and international competitiveness,” he said.

The discussion also focused on how AI enables data-driven decision-making, improves operational efficiency and supports the development of new business models.

What is more, participants shared practical insights on scaling AI solutions and aligning digital transformation with broader business strategies.

The second panel, moderated by Malloc Inc chief executive officer and co-founder Maria Terzi, explored the practical challenges organisations face in deploying AI systems.

Deputy Minister of Research, Innovation and Digital Policy Nicodemos Damianou stressed the importance of aligning AI adoption with national priorities and European regulatory frameworks.

“AI adoption must be aligned with national priorities and European frameworks while continuing to foster innovation and digital transformation,” he said.

Panelists also addressed issues such as regulatory complexity, data protection, privacy and cybersecurity, as well as integration challenges and the need to build trustworthy and ethical AI systems.

Contributions were made by representatives from Meta, the Bank of Cyprus, Eurobank Limited and ECOMMBX, reflecting a broad cross-section of the technology and financial sectors.

Research and Innovation Foundation (RIF) director general Theodoros Loukaidis also addressed the forum, presenting available funding tools and support mechanisms for AI adoption.

“Organisations should leverage national and European initiatives to accelerate AI adoption,” he said.

The event concluded with a networking reception, offering participants the opportunity to exchange ideas and develop strategic partnerships.

المصدر: Cyprus Mail