Digital revolution will deeply affect the lives of citizens and companies, Minister of Transport, Communications and Works Marios Demetriades said on Wednesday, noting at the same time that Cyprus must make the most of these changes, in order to remain competitive.
Speaking at the opening of the Cyprus FinTech Expo, in Nicosia, Demetriades also said that those who will make full use of the new key-enabling technologies in the global economy will also be the best positioned in the global race for competitiveness .
Investing in new technologies will bring synergies, efficiency and productivity gains, the Minister went on. He added that the combined use of digital technologies with other emerging technologies brings about new and innovative business models, generates competitiveness, jobs and growth.
According to the Minister, history shows that for any innovations to be successful they must be fully supported by Governments and regulators. “My presence here today clearly shows the importance that our government attributes on technology enabled changes” he said noting that opportunities that come with digital technologies are relevant for all of us..