In an era where technology is no longer a supporting tool but a basic national infrastructure, the role of companies that design, implement and "run" critical digital systems is gaining strategic importance.
Cosmos Group, with a four-decade history, has travelled the same path as the evolution of IT in Greece and Cyprus. This path has entailed everything from equipment and networks to complex digital infrastructures, and now to artificial intelligence, data centres and supercomputing power.
The President and CEO, Dimitris Dafnis, describes a conscious strategic shift: from selling technology to taking responsibility for the result. This philosophy is also based on the Group's presence in Cyprus, through CBS IT Systems Cyprus, and also on its participation in projects such as the Cyprus Institute's Supercomputing Centre, infrastructures that aspire to transform the country from a consumer to a producer of technology.
In the following interview, Dafnis talks about the true maturity of the market surrounding AI, the conditions for Cyprus to develop into a regional technology hub, the importance of cybersecurity and data, and how the digital economy is now becoming a matter of competitiveness and national resilience.
Cosmos Group has been around for almost four decades in a market that has undergone radical change. Looking back, how has this journey evolved and how does it connect to your own personal journey as a leader?
Cosmos Group began at a time when IT in Greece and Cyprus was in its infancy and has evolved alongside the major technological transitions of the last almost four decades. From a period when the focus was on equipment and basic infrastructure, we gradually moved to more complex systems projects, networking, software and later to integrated digital transformation solutions. Today, our activity covers critical areas such as cybersecurity, data centres, cloud, artificial intelligence and high-performance computing (HPC) infrastructure — the pillars of the modern digital economy.
This path was neither linear nor self-evident. Each period had its own challenges: technological changes, economic cycles and the need to constantly redefine our business model. The constant reference point, however, was always the investment in people and knowledge. Cosmos grew not only in size, but mainly in depth of expertise, building teams of engineers capable of managing complex and critical projects.
My own personal path, from a student at National Technical University of Athens in 1984, when we founded our first company, to today, is inextricably linked to this path. I treated the company not simply as an organisation that must grow financially, but as a living organisation that must adapt, learn and evolve. The transition from “selling technology” to “taking responsibility for the operation and the result” was a conscious strategic choice. Today, looking back, I believe that this choice was decisive: it allowed us to withstand the dramatic changes in the technology market and to be ready for the next phase of the digital era.
Cyprus is now being touted as an emerging technology hub in the region. From your own experience in the market, how much does this reflect reality?
The image of Cyprus as an emerging technology hub is not just a communication narrative, nor is it a fully mature reality. I would say that we are at an intermediate stage, where the foundations have been laid, but consistency and continuity are required to transform them into a lasting comparative advantage.
From our own experience in the Cypriot market where we started 30 years ago in 1996, it is clear that in recent years there has been an increased interest in technology investments, both from domestic and international organisations. Cyprus has significant advantages: geographical location, stable institutional framework, international orientation and flexibility in decision-making - elements crucial in an environment of rapid technological developments. At the same time, there is increasing mobility in sectors such as data centres, financial services, research and innovation and artificial intelligence.
However, for Cyprus to truly function as a regional technology hub, targeted investments in high-value-added infrastructure, specialised human resources and a close connection between research and production are required. Computing power infrastructure, cybersecurity and modern digital ecosystems must be developed in an integrated manner, not piecemeal.
Public-private sector cooperation and the creation of an environment that encourages pilot projects and innovative applications also play an important role. Cyprus has the advantage of size and flexibility, which allows it to move faster than larger countries. The direction is right; the challenge now is to scale up and sustain.
Tell us about CBS IT Systems Cyprus, its relationship with the Cosmos Group and the role it plays today in the Cypriot technology ecosystem.
CBS IT Systems Cyprus Ltd is the official arm of Cosmos Group in Cyprus, operating as a local company with increased specialisation and deep knowledge of the needs of the Cypriot market. The relationship with Cosmos Group is organic — CBS IT Systems Cyprus is a strategic pillar of the Group’s overall presence in Southern Europe, integrating the international know-how, high implementation standards and technological infrastructure that characterise it.
Our presence in Cyprus dates back to 1996, when CBS IT Systems Cyprus was founded, with the aim of bringing to the Cypriot business and public sector the same quality of services that the Group provides in Greece and internationally — from complex network infrastructures and data centers to cloud solutions, cybersecurity, business continuity and cutting-edge technologies such as HPC and AI. The company operates as a local trusted advisor, combining technological superiority with deep knowledge of the local business and regulatory environment.
In the Cypriot technology ecosystem, CBS IT Systems Cyprus has already established itself as a significant partner for businesses and organisations seeking solutions with high demands in reliability and security. It actively participates in projects covering the entire lifecycle of technology solutions — from strategic design and procurement to implementation, management and post-delivery support.
At the same time, its presence strengthens the collaboration with leading international vendors, such as NVIDIA, Microsoft, Cisco, integrating best-of-breed technologies and practices in the Cypriot market. CBS IT Systems Cyprus also actively contributes to the development of local technological talent through employment opportunities, training and joint initiatives with the wider Cosmos Group family.
Overall, CBS IT Systems Cyprus is a comprehensive technology partner - technology advisor that enhances the digital maturity of organisations in Cyprus, promoting innovation, security and business continuity in a rapidly changing environment.
Cosmos is participating in the Cyprus Institute's Supercomputing Center, a project of strategic importance. How are you participating and what do you consider to be the project's real value for the country?
The Cyprus Institute Supercomputing Center is a project of strategic importance, both for us as a Group and for the country itself. Our contribution includes the implementation and support of advanced High Performance Computing (HPC) infrastructures based on cutting-edge technologies such as those of NVIDIA, which we represent in Greece and Cyprus. These infrastructures allow the execution of demanding computational and research workloads on a scale that was not available in Cyprus until recently.
The real value of the project goes beyond the installation of a powerful supercomputer. It creates a foundation for the development of research, innovation and applications of artificial intelligence in areas such as climate, energy, health, natural sciences and digital policy. At the same time, it strengthens the ability of Cyprus to participate equally in European and international research programs, utilising modern computing infrastructures.
At a national level, the Supercomputing Center acts as a catalyst for the creation of a broader ecosystem of technology and knowledge, attracting scientists, research projects and investments, while supporting the transfer of know-how to the market and businesses.
For Cosmos, participation in such a project confirms our role as a reliable implementer of critical infrastructure and as an active contributor to the digital and scientific development of Cyprus, as the Group has installed over 15 HPCs in Greece and Cyprus, possessing the experience and know-how required for the successful implementation of such projects.
The partnership with NVIDIA signals Cyprus’ shift towards high-end AI infrastructure. At the same time, we see strategic agreements with companies like Tenstorrent and Plug and Play and contacts with giants like Amazon and OpenAI following the President’s roadshow in the US. But is the market mature enough to effectively utilise these infrastructures?
The partnership with NVIDIA and the parallel strategic initiatives developed in recent years clearly show that Cyprus is making a conscious shift towards high-end AI and computing infrastructure. Agreements with companies such as Tenstorrent and Plug and Play, as well as contacts with international technology giants such as Amazon and OpenAI, create a strong framework of international connectivity and expectations. The crucial question, however, is whether the market is currently mature enough to effectively utilise these infrastructures.
The answer is that maturity is not yet uniform, but is in the process of being formed. Infrastructure necessarily precedes demand; without it, a serious AI ecosystem cannot develop.
At the same time, however, investment is required in human capital, data, applications and business models that will transform computing power into real value.
Cyprus has the advantage of size and flexibility. It can act as a pilot area, connect research to the market, and move faster than larger economies. As long as AI infrastructure is accompanied by a coherent strategy, partnerships, and targeted applications, the country can effectively leverage these investments and build a sustainable AI ecosystem.
CBS IT Systems Cyprus and Cosmos Group leverage their long-standing partnership as NVIDIA's representative in Greece and Cyprus, acting as a cohesive link of expertise and implementation at the local level, so that investments in AI infrastructure can be transformed into real value for businesses, research and society.
What can Cyprus offer as a technological hub that perhaps larger countries in the region cannot?
Cyprus, despite its small size, can offer advantages as a technology hub that are often not easy to develop in larger countries in the region. First of all, it has flexibility and speed in decision-making, both at the institutional and business level, which is crucial in high-tech sectors such as artificial intelligence and digital infrastructure.
At the same time, its size allows for faster implementation of pilot projects and closer collaboration between the state, academia and the private sector. This creates an environment where new technologies can be tested and developed more quickly into productive applications.
Cyprus also has a strong international orientation, access to markets in Europe, the Middle East and the Eastern Mediterranean, as well as a stable institutional framework. If it uses these characteristics in a coordinated manner, it can function as a flexible innovation hub and not just a technology consumer.
What is Cosmos Group's vision for its presence in Cyprus in the coming years?
Cosmos Group's vision for its presence in Cyprus is long-term and structural not cyclical. Our presence for over 30 years, as well as the company's staffing, constitute a strategic goal and a guarantee for the future.
Our goal is not simply to implement individual projects, but to actively participate in shaping the country's technological ecosystem , as a reliable partner and technology advisor of strategic importance for the public and private sectors.
In the coming years, we seek to further strengthen our local presence through CBS IT Systems Cyprus, investing in human resources, specialisation and transfer of know-how from large and complex projects that we implement in Greece and Cyprus.
We place particular emphasis on areas with long-term added value: AI and HPC infrastructure, complex software applications, cybersecurity, networks, data centers, cloud and business continuity services.
At the same time, we want to act as a bridge between research, innovation and the market, supporting projects that create a real economic and social footprint.
Our vision is for Cosmos to be one of the key pillars of Cyprus' digital maturity, contributing to the country's transition to a knowledge economy, security and technological autonomy.
In which sectors is the Group currently strategically investing and where do you see the greatest growth prospects?
Cosmos Group is today strategically investing in sectors that are not just technological trends, but building blocks of the new digital and economic reality. The common denominator of all our investments is the creation of infrastructure and services with a long-term footprint, which support critical functions of organisations and businesses.
Cybersecurity is a central focus , with an emphasis on 24/7 SOC services, threat management, compliance and operational resilience. Growing cyber risks and regulatory frameworks make security an integral part of every organisation's operations. At the same time, we invest dynamically in cloud and data centre infrastructure, as well as in business continuity and disaster recovery solutions, which ensure availability and continuity.
Another strategic pillar is artificial intelligence and High Performance Computing (HPC). Through partnerships with leading international providers such as NVIDIA, and the implementation of supercomputing projects, we are creating the foundations for AI applications in research, industry, health and the public sector.
At the same time, through our subsidiary Software company, Cosmos Consulting, we produce applications based on AI models with our own Large Language Models (LLMs), aiming for the next generation of technology.
How central a role does Research and Development play in your strategy?
Research and Development (R&D) plays a central and constantly strengthening role in the Cosmos Group's strategy.
Through R&D, we invest in new technologies, architectures and applications, particularly in the areas of artificial intelligence, cybersecurity and high-performance infrastructure. At the same time, it allows us to transfer innovation from research to production, creating solutions that respond to real market needs and offer long-term value to our customers.
Which projects in Cyprus and Greece do you consider most representative of the company's progress to date?
In the course of Cosmos Group, there are projects in Greece and Cyprus that act as benchmarks, not only due to their size, but mainly due to their technological and institutional importance.
In Greece, an emblematic project is the ARIS supercomputer, the largest HPC system in the country, which Cosmos has installed, supported and expanded over time, contributing decisively to the development of the research computing infrastructure. Also, large data centre, cybersecurity and digital infrastructure projects in public and private organisations reflect our ability to manage complex and critical systems.
In Cyprus, the implementation of HPC at the Cyprus Institute is a landmark project, as it creates a national high-performance infrastructure and strengthens the country's position in the field of research and artificial intelligence. In addition, cybersecurity, cloud and IT infrastructure projects in organisations of strategic importance confirm our role as a reliable technology partner in the region.
Similarly, the 2025 projects at the Universities of Cyprus (equipment, services and Cybersecurity), at G-Cloud, the Counter Automation System of the Cyprus Post Office, constitute important milestones and legacies for the future.
In any case, the Group aims for a significant presence in both the public and private sectors, with long-term partnerships and an export strategy towards the Middle East and the Eastern Mediterranean!
Where do you see greater maturity of digital transformation, in the public or private sector?
The maturity of digital transformation is not uniform and differs significantly between the public and private sectors. In general, the private sector exhibits greater speed of adaptation and operational agility. Businesses often move faster, as they directly link technology to their competitiveness, efficiency and growth.
The public sector, on the other hand, operates with more complex processes and institutional frameworks, which slows down the pace of implementation. However, when large digital transformation projects are implemented, their footprint is deeper and more structural, as they affect entire ecosystems and millions of citizens.
In recent years, a convergence has been observed: the public sector is taking significant steps towards maturity, while the private sector is now moving from the adoption phase to the optimisation and in-depth utilisation of technology. This has been greatly facilitated by both the need for digital transformation and funding through European funds RRF and NSRF.
Which sectors are investing the most in technological solutions today?
Today, the largest investments in technology solutions come from industries where technology is a critical factor in competitiveness, security and regulatory compliance.
The financial sector remains at the forefront, systematically investing in cybersecurity, data analytics, automation and resilient digital infrastructure. Similarly, the energy and infrastructure sector is turning to digital solutions for critical systems management, predictive analytics and business continuity.
Education and research are also showing particular momentum, with increased investments in computing power, HPC and artificial intelligence, as well as health, where the use of data and AI creates new possibilities for diagnosis and prevention. At the same time, industry and manufacturing are investing in digital modernisation, Industry 4.0 and automation.
Finally, in both the public and private sectors, the increasing emphasis on compliance and security acts as a key catalyst for new technology investments.
There is intense international hype around AI. How truly prepared are businesses in Cyprus and Greece to put it to practical use?
There is indeed intense international hype around artificial intelligence, but the actual readiness of businesses in Cyprus and Greece varies significantly from sector to sector and from organisation to organisation. Most businesses are still in an early stage, where interest in AI is high, but practical utilisation remains limited.
The key barrier is not the technology itself, but data, infrastructure and organisational maturity. Many organisations do not yet have a clear view of their data, nor the computational and digital foundations required to support serious AI workloads. Those who have invested early in cloud, security, data governance and high-performance infrastructure are clearly ahead.
At the same time, we see that the most mature approaches to AI start from specific business problems rather than general expectations. Our experience shows that AI works best when it is part of a broader digital transformation plan. The hype will die down; the organisations that have invested properly in the foundations will be the ones that will actually use AI in practice and have a presence in the future.
If we were talking again five years from now, where would you like Cosmos Group to be and where would you like Cyprus and Greece to be technologically?
If we were talking again in five years, I would like Cosmos Group to be in a position where it is clearly recognised as a strategic technology partner and technology development advisor.
Our goal is to further consolidate our role in the implementation and operation of critical infrastructures, particularly in the areas of cybersecurity, artificial intelligence, data centres and High Performance Computing, offering services with long-term value and an international orientation.
For Cyprus, I would like to see it complete its transition from a technology consumption market to a mature regional knowledge and innovation hub, with strong infrastructure, a close connection between research and entrepreneurship, and the ability to attract international high-tech projects and collaborations. At the same time, it will become the export arm of the Group in terms of Managed Services and Services.
Accordingly, for Greece, the goal is to consolidate the technological maturity built in recent years, with an emphasis on the sustainability of infrastructure, safety and the production of real added value.
A common denominator for both countries is investment in human resources and knowledge. If this is achieved, technology can act as a lever for growth and international competitiveness.
(Source: InBusinessNews)
