“The question is not just who will get there first, but who will invest the most in AI", says Nicodemos Damianou

07:06 - 08 March 2025

Technology

Artificial intelligence (AI) is shaping our digital future and has now become a matter of power, Deputy Minister of Research, Innovation and Digital Policy Nicodemos Damianou told the "Demystifying & Unleashing AI" conference, organised by Cyprus Innovation Technologies in Nicosia.

The Deputy Minister analysed the global race for AI investments, its geopolitical dimensions, and Cyprus' role in this new era.

"Artificial intelligence dominates the global agenda. Today, the question is not just who will get there first, but who will invest the most in AI," he stated, emphasising that this technology is shaping the future of the digital economy—even geopolitical developments.

He further pointed out that AI brings tremendous opportunities to both the business and public sectors, with its potential to transform entire industries and shift the global narrative around technology.

"This year, the discussion is not just about innovation, but also about power," he stressed, referring to AI's geopolitical implications.

Equally important, he noted, is ensuring the ethical implementation of AI for the benefit of humanity. He emphasised that regulation and compliance should not hinder progress and innovation but instead serve as mechanisms for balance.

Cyprus' role in the AI era is a priority, according to the Deputy Minister. "It is not necessarily those who develop the technology who will win the game. The winners will be those who implement it in the best possible way," he concluded emphatically, delivering a speech that highlighted the emerging global perspective on AI and its impact on the international stage.

“The question is not just who will get there first, but who will invest the most in AI", says Nicodemos Damianou

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