18% of Cypriot businesses hit by cyberattacks in 2023

In 2023, nearly one in five businesses in Cyprus reported experiencing a cyberattack, according to a recent survey by the Cyprus IT Enterprises Association (CITEA). The findings were shared at an event on Monday, where it was revealed that 92% of companies plan to invest in digital transformation within the next year.

The CITEA survey highlights several key trends and challenges facing Cypriot enterprises as they adapt to a rapidly changing digital landscape. One of the most significant findings is that 92% of businesses are gearing up to invest in digital upgrades, reflecting a strong commitment to embracing technology in their operations.

However, this push for digital transformation comes with its challenges. About 78% of businesses identified the need to improve their staff's digital skills as their biggest hurdle. Ensuring that employees are equipped to handle new technologies is essential for successful implementation.

Customer experience is also a priority for businesses, with 80% agreeing that having a user-friendly interface is crucial for enhancing digital interactions with clients. As companies look to improve how they engage with customers online, user experience will play a vital role in their digital strategies.

Cybersecurity remains a pressing concern, as 18% of enterprises reported being targeted by cyberattacks over the past year. Despite these incidents, 82% of businesses view cybersecurity as a critical component of their digital transformation efforts. Protecting sensitive information and ensuring a secure online environment is increasingly becoming a top priority for many companies.

Artificial intelligence (AI) is gaining traction as well, with 58% of enterprises actively using AI tools, including ChatGPT. Among their main focuses are task automation and data analytics, which can help streamline processes and enhance decision-making.

As Cypriot businesses continue to navigate these challenges and opportunities, the commitment to digital transformation appears stronger than ever, aiming to create a more secure and efficient future.

[With information from CNA]