Press Release Title: The Chief Scientist attended the HackAIthon: AI in Fintech – The Power of Personalisation event hosted by Quadcode at The Warehouse by IT Quarter in Limassol

The Chief Scientist for Research, Innovation, and Technology, Mr. Skourides, attended the HackAIthon: AI in Fintech – The Power of Personalisation event hosted by Quadcode at The Warehouse by IT Quarter in Limassol. Representing the Deputy Minister of Research, Innovation, and Digital Policy, Dr. Nicodemos Damianou, Mr. Skourides extended a warm welcome to all participants.

In his speech, the Chief Scientist addressing 100+ participants, 20 teams, and 25 mentors, that the HackAIthon event aims to unite brilliant minds from various fields to harness the transformative power of AI in the Fintech Industry. He stated that this initiative is not just about technological advancement but represents a paradigm shift towards creating more innovative intelligent, and efficient systems that boost customer services by improving our daily lives.

Highlighting the critical role of hackathons, Mr. Skourides explained that these events foster rapid innovation by creating unique environments where creativity, collaboration, and competition converge. He noted that hackathons are essential for developing solutions that can drive the next wave of technological breakthroughs, evaluating the impact this new solutions have on a business.

Reaffirming Cyprus’ commitment to becoming a leading hub for research and innovation, the Chief Scientist underscored the government’s dedication through initiatives such as the “Cyprus 2035” strategic plan. He emphasized that the vision is to create an ecosystem where groundbreaking ideas can flourish, attracting both homegrown talent and international innovators.

Mr. Skourides pointed out that Cyprus is rapidly emerging as a center for AI development, with its Centres of Excellence, research institutions, universities, and tech companies at the forefront of AI innovation. He highlighted the government’s support through favorable policies and funding, noting that the Research & Innovation Foundation has allocated €149.5 million to fund 958 projects, showcasing Cyprus’ commitment to technological development and innovation.

Focusing on the topic around fintech, the Chief Scientist and CTO explained that these new breed of companies relentlessly focus on how value is created and how calue can be captures to delight customers.

Mr Skourides emphasized the potential of AI Driven personalization in Fintech to revolutionize industries by offering tailored experiences that meet individual needs. He highlighted that in Fintech personalization power by AI use cases can provide new user insights enhance financial education tools,offer adaptive trading platforms making fintech more accessible, efficient and responsive.

In addition, Mr Skourides encourages the participants of the hackathon to

-Obsess about the customer journey and experience

-Obsess about creating value

– Obsess about capturing value

– Stresses the importance of validating minimal viable products, using c

– Encourage the teams to engage and communicate their ideas with business sponsors

The HackAIthon event, as highlighted by the Chief Scientist, is a testament to Cyprus’ ongoing efforts to position itself as a beacon of technological advancement. With support from organizers, sponsors, partners, and participants, the event promises to drive scientific excellence and technological innovation.

In his concluding remarks, Mr. Skourides encouraged participants to expand the horizons of what is achievable, interact with colleagues, test hypotheses, and discover new research areas. He reaffirmed that Cyprus is dedicated to facilitating this journey and building a conducive environment for innovation.