Greek businesses are reluctant towards adopting Genetic Artificial Intelligence (Gen AI) despite its potential benefits, as discussed at the Digital Economy Forum. This reluctance, largely stemming from technological fears, could hinder Greece’s economic growth and global competitiveness.
The projected contribution of Gen AI to the Greek economy is substantial, estimated at €10.7 billion by 2030. Gen AI refers to AI models designed to generate new content and solve complex problems beyond traditional AI capabilities.
The integration of Gen AI is anticipated to enhance decision-making, reduce administrative costs, increase productivity, and drive innovation within Greek enterprises.
According to Deloitte research presented at the forum, Gen AI’s potential impact on the country’s GDP is significant, estimated at +5.5% by 2030, with potential growth up to +9.8%. Sectors like Finance, Wholesale Trade, Manufacturing, Services, and Information & Communication are expected to benefit the most.
There is a pressing need for skill development programs, especially for STEM graduates, to address the predicted IT specialist gap of 83,000 positions by 2030.
While only 15% of Greek businesses have begun experimenting with Gen AI, most acknowledge its potential to improve efficiency. However, many companies, particularly in the Digital Technology sector, have yet to adjust their strategies for Gen AI integration, fearing challenges in finding specialized IT personnel.
Cultural factors contribute to this reluctance, with executives apprehensive that AI adoption might clash with their existing skill sets, as highlighted by George Xirogiannis from the Hellenic Federation of Enterprises (SEV).
Emphasizing the need for a national initiative, Spiros Pampoukidis, First Executive Vice President of SEV’s Board of Directors, urges Greece to prioritize digital technology focusing on high-level human resources and innovative enterprises.
Pampoukidis stresses that both businesses and governments must accelerate digital investments, utilizing data and AI to meet evolving needs, modernizing technology for enhanced development and organizational flexibility.