Small and medium-sized enterprises (SMEs) are key players in the Cypriot economy, and their sustainability and competitiveness largely depend on enhancing their technological infrastructures and digital services. Digital transformation encompasses various innovations and digital capabilities, such as e-commerce, digital platforms, digital payments, cloud applications, data analytics and emerging technologies such as artificial intelligence (AI) and blockchain. According to the Digital Economy and Society Index (DESI), 66% of Cypriot SMEs make use of new technologies and have basic digital skills, well above the EU average (55%) by 11%. Despite the benefits, many SMEs are still lagging behind compared to larger businesses, and find it difficult to access high-quality and affordable digital infrastructure.
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