18% of Cypriot businesses were cyberattacked in the past year, 58% of businesses use artificial intelligence tools including ChatGPT while 92% plan to invest in digital transformation within the next year.
These are, among others, the findings of the results of the Cyprus IT Business Association (CITEA) Survey and the CITEA Index for 2024, which were presented at an Association event on Monday.
According to a CITEA announcement, the event presented important findings regarding the perceptions, challenges and forecasts of Cypriot businesses in the field of digital transformation.
Some of the main findings of the survey are: First, in relation to investments in digital transformation, 92% of businesses intend to invest in digital transformation within the next year. Second, in relation to challenges, 78% of businesses cite enhancing the digital skills of staff as their biggest challenge.
Third, in relation to customer experience, 80% of businesses consider a user-friendly interface as a critical factor in their digital customer experience.
Fourth, in relation to cyber security, 18% of businesses have experienced a cyber attack in the past year, while 82% of businesses see cyber security as a key enabler for digital transformation.
Fifth, in relation to Artificial Intelligence (AI), 58% of businesses use AI tools including ChatGPT and have task automation and data analytics as top priorities.
At the same time, the CITEA index was analyzed at the event, which measures the digital maturity of Cypriot businesses and provides valuable information on the digital capabilities and weaknesses of businesses.
The CITEA index ranks companies into five levels of digital maturity. Beginner, businesses starting digital transformation, Explorer, businesses experimenting and learning about digital tools, Competent, businesses with good understanding and utilization of digital technologies, Transformer, businesses actively innovating and optimizing their digital processes and Leader, businesses leading and create trends in digital transformation.
Based on the findings, approximately 56,8% of Cypriot businesses are still in the initial stages of their digital transition (Beginner and Explorer levels), 18,8% at a satisfactory level (Competent) and 24,4% demonstrate a high degree of digital maturity (Transformer and Leader levels).
After the presentation, a panel discussion followed with the participation of the Deputy Minister of Research, Innovation and Digital Policy, Nikodimos Damianos, the General Director of the Federation of Employers & Industrialists (OEB), Michalis Antoniou, and the President of CITEA, Dimitris Nisiotis.
