The Cyprus Information Technology Enterprises Association (CITEA), a member of the Employers and Industrialists Federation (OEB), held an event to present the results of the CITEA Survey and the CITEA Index on Monday, October 21, 2024.

The event showcased significant findings regarding the perceptions, challenges, and predictions of Cypriot businesses in the field of digital transformation. Some of the key conclusions of the survey include:

• Investments in Digital Transformation: 92% of businesses plan to invest in digital transformation within the next year.

• Challenges: 78% of businesses cite enhancing staff's digital skills as their greatest challenge.

• Customer Experience: 80% view a user-friendly interface as a critical factor for the digital customer experience.

• Cybersecurity: 18% of businesses experienced cyberattacks in the past year, while 82% consider cybersecurity a key factor in digital transformation.

• Artificial Intelligence (AI): 58% of businesses use AI tools, including ChatGPT, with task automation and data analysis as their top priorities.

Additionally, the CITEA Index, which measures the digital maturity of Cypriot businesses, was analyzed, offering valuable insights into the digital capabilities and weaknesses of these enterprises.

The CITEA Index ranks businesses across five levels of digital maturity:

1. Beginner: Businesses starting their digital transformation.

2. Explorer: Businesses experimenting and learning about digital tools.

3. Competent: Businesses with a solid understanding and use of digital technologies.

4. Transformer: Businesses actively innovating and optimizing their digital processes.

5. Leader: Businesses leading and setting trends in digital transformation.

According to the findings, approximately 56.8% of Cypriot businesses are still in the early stages of their digital transition (Beginner and Explorer levels), 18.8% are at a satisfactory level (Competent), and 24.4% demonstrate a high degree of digital maturity (Transformer and Leader levels).

Following the presentation, a panel discussion took place with the participation of the Deputy Minister of Research, Innovation, and Digital Policy, Mr. Nikodimos Damianou; the General Director of OEB, Mr. Michalis Antoniou; and the President of CITEA, Mr. Dimitris Nisiotis. The discussion was moderated by CITEA Board Member Mr. Michalis Tyrimos.

The event concluded with a reception, offering an opportunity for networking and exchanging views on digital technology and innovation topics.