The Cyprus Chamber of Commerce & Industry (Keve) on Wednesday announced the launch of the co-financed Data ProTech project, designed to help Cyprus SMEs comply with AI and data protection regulations.

The consortium agreement was signed by personal data protection commissioner Irene Loizidou-Nicolaidou, Keve secretary general Philokypros Rousounides, and the executive director of the University of Limassol Ioanna Panayiotou.

The Data ProTech project, officially titled “Supporting Data Protection Compliance in AI Technology Usage by Cyprus SMEs,” aims to support small and medium-sized enterprises in the field of personal data protection when using artificial intelligence.

The project is being implemented under the European Citizens, Equality, Rights and Values programme CERV-2024-DATA.

It has a duration of two years and will receive European funding of €250,000.

Data ProTech will strengthen the capacity of small and medium-sized enterprises in Cyprus to comply with the General Data Protection Regulation (EU) 2016/679 and the European Artificial Intelligence Regulation (EU) 2024/1689.

One of the main activities of the project will include conducting a comprehensive survey of artificial intelligence usage by small and medium-sized enterprises and identifying the criteria that must be met for compliance with the above regulations.

Based on these activities, an electronic tool will be developed that will be user-friendly and easily accessible.

Through this tool, businesses will be able to conduct a self-assessment of their compliance with the above regulations.

At the same time, training seminars will be organised for small and medium-sized enterprises on how to use this tool.

Although the focus of the programme and the tool being developed is small and medium-sized enterprises in Cyprus, it will also be available for use by larger companies both in Cyprus and at the European level.