Cyprus SMEs invited to assess AI use under new EU compliance initiative

The Cyprus Securities and Exchange Commission (CySEC) has released a statement drawing attention to an invitation for Cypriot small and medium-sized enterprises to participate in a questionnaire on the use of artificial intelligence.

CySEC said the questionnaire was originally issued by the Office of the Commissioner for Personal Data Protection and is addressed to supervised entities operating in Cyprus.

The regulator said the initiative is implemented within the framework of the EU co-funded Data ProTech project, which forms part of the CERV Programme.

CySEC said the project aims to strengthen SME compliance with the General Data Protection Regulation (EU) 2016/679 and the Artificial Intelligence Regulation (EU) 2024/1689.

The deadline for submitting responses to the questionnaire is Wednesday, 4 February 2026, CySEC said.

The Data ProTech project is implemented by the Office of the Commissioner for Personal Data Protection in cooperation with the University of Limassol and the Cyprus Chamber of Commerce and Industry.

CySEC said the project seeks to respond to the real operational needs of SMEs by combining regulatory compliance with practical support.

Within this framework, an electronic compliance assessment tool will be developed to allow SMEs to carry out self-evaluations of their compliance with GDPR and the AI Act.

The project also includes the creation of training and informational material tailored to the specific challenges faced by small and medium-sized businesses.

CySEC said a series of educational and training activities will be organised to support businesses in implementing compliant AI systems.

Expected outcomes include a mapping of AI use among SMEs and the identification of compliance gaps that may expose businesses to regulatory risk.

The project will also result in a set of compliance criteria for AI systems, aimed at providing clear guidance for lawful and responsible deployment.

The commission said the initiative also includes workshops and targeted actions to enhance understanding of regulatory obligations.

An awareness campaign on GDPR and the AI Act will also be carried out to promote a culture of compliance across the SME sector.