Cyprus's AI market is projected to reach €150 million by 2026, driven by increased digital transformation in finance, tourism, and shipping sectors. The country's strategic investments, especially €50 million from the government, aim to foster innovation and attract tech startups. With 45 active AI startups, Cyprus is establishing itself as a regional AI hub, especially in niche areas like maritime tech and fintech.
The AI adoption rate among Cypriot businesses is expected to hit 35%, reflecting a growing recognition of AI's benefits in improving operational efficiency and customer experience. The AI workforce is expanding to around 2,200 professionals, supporting the country's technological ambitions. As digital infrastructure improves, Cyprus's AI ecosystem is poised for sustainable growth in the coming years.