Cyprus businesses are increasingly embracing digital transformation, with artificial intelligence (AI) and e-commerce emerging as key drivers of change. Recent data highlights how companies of all sizes are integrating technology into their operations, demonstrating a shift in the way commerce is conducted in this country.
e-commerce trends
Digital channels are playing an increasing role in business transactions. Almost a quarter (23.9%) of Cypriot companies currently receive orders through computer networks, with the exception of standard email. Similarly, 23% of businesses process orders via a website or app, and a smaller segment (1.9%) use electronic data interchange (EDI) systems.
Direct online sales through companies' own platforms accounted for 17.1% of orders, and 14.1% came from multi-business electronic market platforms. Orders from individual consumers account for the overwhelming majority of digital transactions at 21.9%, while orders from other companies and public institutions account for 10%. These numbers highlight the growing importance of online sales channels for both B2C and B2B activities.
Increased adoption of artificial intelligence
AI is also becoming a strategic tool for companies in Cyprus. In 2025, 9.3% of companies will report using AI technology, up from just 2.6% in 2021. Adoption rates are particularly high among large enterprises, with 35.1% using AI systems, compared to 15.3% of midsize enterprises and 7.7% of small and medium-sized enterprises.
AI applications range from text mining and computer vision to speech recognition, natural language generation, and advanced machine learning techniques. These technologies help businesses autonomously collect and analyze data, make informed decisions, and optimize operations to achieve specific goals.
The trend of AI adoption is steadily growing among businesses of all sizes. Since 2021, usage rates for large enterprises have increased approximately 3x, adoption rates for midsize businesses have increased approximately 3x, and adoption rates for small and medium-sized enterprises have increased 4x.
Looking to the future
These trends suggest that Cypriot companies are increasingly leveraging technology to improve efficiency and expand their market reach. As consumers become increasingly accustomed to online transactions and businesses continue to deploy AI, digital and automated systems will play a central role in shaping the future of this country's economy.
Information from 24news.
