“Artificial intelligence should not be a source of concern at a time when unemployment is at its lowest in decades,” said Philokypros Roussounides, General Secretary of the Cyprus Chamber of Commerce and Industry (CCCI), commenting on the impact of AI on the labour market and recent global unemployment figures.
Speaking in an interview with Sigma, Roussounides addressed the growing challenges faced by young people aged 15–24 as they enter the workforce. While entry-level positions have traditionally offered a pathway for first-time jobseekers, there is an increasing trend of such roles being replaced by automated systems.
“Locally, there is no impending cause for concern, as Cyprus is experiencing conditions of near-full employment. Unemployment stands at less than 5 per cent (around 4.5 per cent), the lowest in decades,” Roussounides noted.
He added that, for the time being at least, there is no need to fear that AI will deprive young people of their first jobs or hinder their entry into the labour market.
According to the CCCI, Cyprus’ key advantage lies in its workforce, particularly the younger generation. “The vast majority of Cyprus’ young workforce comes from a background of high-quality education, from both local and foreign universities, which the Chamber naturally wishes to see utilised locally, welcoming them into the job market,” he said.
“AI should not be a source of concern for the youth, but simply a new reality to which we must all adapt and from which we must learn to draw advantages,” Roussounides concluded.
