Filenews 8 June 2025 - by Eleftheria Paizanou
Artificial intelligence is fundamentally changing the business world, as it diversifies the traditional way of working. Informatics academic, researcher and artificial intelligence expert Dr. Giorgos Melilos, in an interview with "F", lists the new opportunities that will be created.
As he states, artificial intelligence offers a new way of working and a new way of thinking. At the same time, he notes that many important benefits will arise for businesses, such as reduced operating expenses, increased productivity, faster customer service and better decision-making.
According to Mr. Mellilos, artificial intelligence will create a new class of businesses, which will be categorized as "enterprises of high digital maturity" and as "digitally immature enterprises", which will struggle to remain viable.
With regard to workers, the researcher considers the concern that exists to be justified, but believes that there is no justification for panic about mass job losses. As he states, in case the tasks of some employees are differentiated due to artificial intelligence, they could take on supervisory and strategic tasks.
In addition, he mentions that, according to a study carried out, 60% of businesses in Cyprus know what artificial intelligence is, but only 15% use it. In conclusion, he underlines that it is necessary to ensure supervision, transparency in the way algorithms work and to have clear limits on the misleading or dangerous uses of technology.
– How will artificial intelligence transform the business world? Will new opportunities be created for businesses? Can you tell us some practical applications?
Artificial intelligence (AI) is radically changing the business world, offering not just a new way of working, but a whole new way of thinking. The transformation is mainly about three pillars: automation, data-driven decision-making, and personalization of services.
New opportunities are emerging every day in many areas. In customer service, for example, chatbots respond instantly to simple questions, leaving more time for staff for more complex tasks. In the supply chain, businesses can anticipate their needs more intelligently, reducing delays and unnecessary expenses. In marketing, campaigns become more targeted, based on real data, customer behaviours, or even customer locations.
A simple example: a retail business can, with the help of artificial intelligence, predict which products will be in increased demand depending on the weather or the previous purchases of its customers. Thus, it reduces unnecessary stock and increases its sales more accurately.
– What are the benefits of artificial intelligence for businesses? For example, will there be a reduction in their costs and will the services they offer improve? Will there not be a cost for the purchase and use of technology and for the digital transformation?
The benefits are significant: reduced operating expenses, increased productivity, faster customer service and better decision-making.
Especially for small and medium-sized businesses, the use of large language models (LLMs), such as Gemini, Microsoft Copilot or ChatGPT, can translate into time savings, e.g., in writing emails, quotes or even responses to customers. In addition, it can be used to create social media posts.
Clearly, there are initial investment costs related to new technology, training, adaptation of systems. But this cost is a long-term investment and not an expense.
– Will there be any impact from artificial intelligence on the business map of Cyprus?
Inevitably, yes. Businesses that adopt AI in a timely manner will have a comparative advantage: lower costs, better customer targeting, market adaptability.
Conversely, those that are left behind and do not integrate AI will find it difficult to compete. This will create a new class of enterprises: "highly digitally mature" and "digitally immature enterprises", which will fight to remain viable.
This means that AI can accelerate economic inequality between business units.
– Has there been any research on the extent to which businesses in Cyprus are ready and willing to utilize artificial intelligence?
Yes, as far as I know, in the last couple of years some recording efforts have begun. For example, organizations and research centers have conducted research on digital maturity.
A key finding: 60% of small and medium-sized enterprises in Cyprus know what AI is, but only 15% actually use it. Most state a lack of knowledge, fear of AI, fear of cost, or lack of skilled personnel. However, there is increased intention to integrate AI in various areas such as customer management and marketing.
– How will employees in businesses be affected by artificial intelligence? Do you share the concerns that jobs will be lost?
The concern is well-founded, but it does not justify fear and panic. It is not so much that jobs will be lost, but that roles and duties will change.
Specific tasks, such as recurring data entry, basic telephone service or the drafting of standard documents, will now be performed by artificial intelligence. However, this does not necessarily mean a layoff, but a shift of employees to more creative, supervisory or strategic activities.
So, we are talking about transition, not loss. Education and adaptability will be decisive factors.
– Should companies invest in training employees in artificial intelligence tools?
Absolutely. Education is not a luxury, it is a prerequisite for survival.
Introducing AI tools without training leads to mistakes, fear, and rejection. When, on the contrary, the employee understands how to use tools—such as prompts in LLMs or data analytics applications—productivity takes off.
There are now many options: free or affordable seminars, in-house trainings, tailored to each business. It is something that concerns all businesses, regardless of size.
– Should the legal framework be strengthened and there should be supervision in the use of artificial intelligence?
This is a key issue. The EU has already proceeded with the AI Act, which sets strict rules for high-risk systems (health, justice, etc.).
It is essential to have supervision, transparency in algorithms and clear limits on misleading or dangerous uses.
When it comes to copyright, there is a legal gap: who owns the content produced? The creator of the prompt, the company or the system itself? When there is human intervention, who has the rights?
Finally, privacy is critical, especially when tools "learn" from the data provided to them.
