*Andreas Yiasemides
Artificial intelligence is no longer a distant ambition or a technological experiment sitting on the margins of business activity. It has already become a defining force in how organisations operate, compete and create value. The discussion is no longer about what AI could do, but about how it is already transforming businesses.
In recent years, companies around the world have invested heavily and experimented extensively with generative artificial intelligence. Many entered this phase with understandable enthusiasm, launching pilot projects, testing productivity tools and exploring individual use cases.
Yet the reality is that, globally, only a limited number of companies have managed to turn this experimentation into real, measurable and sustainable value.
The next phase is not simply about adopting more tools. The real competitive advantage will come from something deeper: redesigning the way organisations operate.
In this context, PwC Cyprus’ journey with artificial intelligence reflects this transition, from experimentation to practical application and meaningful transformation in the way we work and create value.
Our approach is no longer limited to fragmented productivity gains or the automation of individual tasks. Instead, we are focusing on the strategic use of advanced AI capabilities to redesign business processes, strengthen decision-making and create a more robust experience for both our clients and our people.
At the same time, the recent expansion of the strategic partnership between PwC and Anthropic points to the direction of PwC’s global network. The emphasis on operating models built around autonomous digital assistants and AI systems capable of carrying out complex end-to-end tasks marks a significant shift in business transformation.
This translates into a new environment in which AI actively supports complex workflows across critical functions, from finance and deal-making to cybersecurity, software engineering, human resources and supply chains. In practice, this means faster execution, a sharp acceleration of processes that previously took weeks or even months, and a stronger ability by organisations to respond.
It also creates an important opportunity: upgrading the role of our people. By reducing repetitive and administrative work, professionals can focus more on higher-value thinking, creative problem-solving, collaboration and strategic insight.
As I prepare to take on the role of CEO of PwC Cyprus, my position is clear: artificial intelligence is not only about technology. It is about how we lead, how we evolve and how we turn our strategy into meaningful results.
For Cyprus, artificial intelligence is first and foremost a question of competitiveness. Although our market is small, this can work to our advantage. Smaller ecosystems can adapt more quickly and create closer cooperation between businesses, the state and academia. The country already has important foundations in place: a growing technology ecosystem, international interest, specialised human capital and a strong position as a regional centre for professional services.
But we must move quickly. Cyprus needs a coordinated approach, with emphasis on skills, digital infrastructure, responsible innovation and the practical integration of artificial intelligence into the economy.
The priority now is execution, moving from ambition to action. This means targeted pilot applications, proper governance and support for organisations so they can turn experimentation into measurable business results.
At PwC Cyprus, we have both the responsibility and the ability to support this transition. Through our global network, strategic partnerships, sector expertise and AI capabilities, we can help organisations in the private and public sectors move from experimentation to real impact.
The opportunity for Cyprus is not simply to adopt artificial intelligence, but to use it strategically to strengthen productivity, competitiveness and the country’s position as a regional hub for innovation and advanced professional services. The future will not be determined by who experimented with artificial intelligence first. It will be determined by who used it to truly transform their business.
*CEO-elect, PwC Κύπρου
