PwC Cyprus CEO-elect Andreas Yiasemides has stressed that artificial intelligence is “no longer a future ambition or a technology experiment taking place on the margins of day-to-day business”, describing it instead as “a defining force behind how organisations operate, compete and create value”.

Yiasemides said the conversation has shifted decisively from “what AI could do” to “how AI is already transforming the enterprise”.

“Over the past few years, businesses around the world have experimented extensively with Generative AI,” he said, noting that many organisations entered this phase “with understandable excitement, launching pilots, testing productivity tools, and exploring isolated use cases”.

However, he pointed out that, “globally, relatively few companies have managed to translate that experimentation into measurable enterprise-wide value”.

“The reality is that the next competitive advantage will not come simply from using AI tools,” he said.

“It will come from redesigning how organisations function,” Yiasemides added, describing this as “exactly where we see the next phase emerging”.

As he prepares to take on the role of CEO of PwC Cyprus, Yiasemides said his position is clear.

“AI is not just about technology,” he said. “It is about how we lead, how we evolve and how we turn our strategy into meaningful results.”

For Cyprus, Yiasemides described artificial intelligence as “primarily a competitiveness issue”.

“Although our market is small, this can work to our advantage,” he said, explaining that “smaller ecosystems can adapt faster and create closer cooperation between businesses, the state and academia”.

He added that Cyprus already has “important foundations”, including “a growing technology ecosystem, international interest, specialised human resources and a strong position as a regional centre for professional services”.

“But we need to move quickly,” he said.

“Cyprus needs a coordinated approach with an emphasis on skills, digital infrastructure, responsible innovation and the practical integration of Artificial Intelligence into the economy,” Yiasemides added.

He also stressed that “the priority now is execution, moving from ambition to action”.

“This means targeted pilots, good governance and supporting organisations to turn experimentation into measurable business results,” he said.

At PwC Cyprus, Yiasemides said the firm has “both the responsibility and the ability to support this transition”.

“Through our global network, strategic alliances, industry expertise and expanding the AI capabilities, we can help organisations in the private and public sectors move from experimentation to real enterprise-wide impact,” he added.

“The opportunity for Cyprus is not simply to embrace AI,” Yiasemides said, “but to harness it strategically to enhance productivity, competitiveness and the country’s position as a regional hub for innovation and advanced professional services.”

“The future will not be defined by those who first experimented with AI,” he concluded, adding that “It will be defined by who harnesses it to fundamentally transform their business.”