The American Chamber of Commerce in Cyprus (AmCham Cyprus) held its Executive Forum 2026 on Monday, highlighting artificial intelligence as a crucial element in enhancing competitiveness and regulatory frameworks. The forum brought together government officials, business leaders, and technology experts under the theme ‘From Compliance to Competitiveness: The Complete AI Leadership Agenda’.
- The keynote address was delivered by Khaliq Khan, Kyndryl Vital global lead, who offered a global perspective on AI-powered transformation.
- She remarked that the evolving European framework presents both challenges and opportunities for organisations seeking to innovate responsibly while remaining compliant.
- The first panel discussion, moderated by Michael Tyrimos, Managing Director at Capacitor Partners, focused on how AI can unlock innovation and enhance business competitiveness.
- The panel also discussed AI's role in enabling data-driven decision-making, improving operational efficiency, and supporting the development of new business models.
- Participants shared practical insights on scaling AI solutions and aligning digital transformation with broader business strategies.
Artificial intelligence: A Platform for High-Level Dialogue
Organised by the Digital Transformation and Fintech Committee, the event attracted a diverse audience from both public and private sectors, providing a valuable platform for discussions on transforming regulatory compliance into a catalyst for innovation and competitive advantage in an AI-driven economy.
Keynote Insights on AI
Opening the event, Paris P. Savva, Regional Manager Cyprus at Fortinet and head of the AmCham Digital Transformation and Fintech Committee, stressed the growing significance of artificial intelligence.
“AI is becoming a defining driver of competitiveness and a strategic priority for organisations across industries,” he stated, underscoring the need for businesses to adapt to this evolving landscape.
Global Perspectives on AI Transformation
The keynote address was delivered by Khaliq Khan, Kyndryl Vital global lead, who offered a global perspective on AI-powered transformation.
“Organisations are increasingly adopting AI-first approaches to reinvent customer experience, optimise operations, and unlock new value through data-driven decision-making,” Khan noted, indicating a shift in how businesses are integrating AI into their core strategies.
Understanding the EU AI Act
Professor Stéphanie Laulhé Shaelou, head of the School of Law at UCLan Cyprus, provided an overview of the EU AI Act, detailing its core principles, risk classifications, and regulatory requirements.
She remarked that the evolving European framework presents both challenges and opportunities for organisations seeking to innovate responsibly while remaining compliant.
Unlocking Innovation through AI
The first panel discussion, moderated by Michael Tyrimos, Managing Director at Capacitor Partners, focused on how AI can unlock innovation and enhance business competitiveness.
Demetris Skourides, Chief Scientist for Research Innovation and Technology, outlined Cyprus’ strategic approach to innovation. “Cyprus is leveraging AI as a key driver of economic growth and international competitiveness,” he emphasised.
The panel also discussed AI’s role in enabling data-driven decision-making, improving operational efficiency, and supporting the development of new business models.
Participants shared practical insights on scaling AI solutions and aligning digital transformation with broader business strategies.
Challenges in AI Deployment
The second panel, moderated by Maria Terzi, CEO and co-founder of Malloc Inc, explored the practical challenges organisations face in deploying AI systems.
Deputy Minister of Research, Innovation and Digital Policy Nicodemos Damianou highlighted the importance of aligning AI adoption with national priorities and European regulatory frameworks.
“AI adoption must be aligned with national priorities and European frameworks while continuing to foster innovation and digital transformation,” he stated, emphasising the need for a cohesive approach.
Panelists addressed regulatory complexity, data protection, privacy, and cybersecurity, alongside integration challenges and the necessity of building trustworthy and ethical AI systems.
Funding and Support for AI Initiatives
The forum also featured insights from Theodoros Loukaidis, Director General of the Research and Innovation Foundation (RIF), who presented available funding tools and support mechanisms for AI adoption.
“Organisations should leverage national and European initiatives to accelerate AI adoption,” Loukaidis encouraged, pointing out the resources available for businesses looking to invest in AI technologies.
Networking Opportunities and Future Collaborations
The event concluded with a networking reception, providing participants with the opportunity to exchange ideas and develop strategic partnerships.
The forum exemplified AmCham Cyprus’s commitment to fostering discussions around the critical role of artificial intelligence in shaping the future of competitiveness in various sectors.
