The global evolution of artificial intelligence (AI) has paved the way for improvements in every aspect of daily life, not only for citizens, but also for governments and businesses. Generative Artificial Intelligence (Generative AI - Gen AI), a branch of Artificial Intelligence, has the capability to generate original content processing vast amounts of data.

During SEPE’s digital economy forum 2023: Shaping Greece's Digital Future, the study "Gen AI - opportunities and prospects for the Greek economy" was presented. The study conducted by Deloitte on behalf of SEPE (Federation of Hellenic ICT Enterprises) and supported by the National Documentation Center (NDC), explores the potential AI in Greece.

The study highlights how Generative AI has already influenced, or is expected to impact Greek businesses across various sectors, including the Information & Communication Technologies (ICT) sector and others. It quantifies the economic effects of Gen AI on the Greek economy and the gap between supply and demand for ICT specialists. Deloitte also assessed the extent of Gen AI impact on the Greek economy and the employment prospects for ICT specialists.

Specifically, regarding the projected impact of Gen AI on the country's GDP, the analysis concluded that its contribution is projected to be substantial. By 2030, the cumulative impact of Gen AI is estimated to add +5,5% to the country's GDP (i.e. €10,7 billion), with potential to reach +9,8% under certain conditions. It is noteworthy that around 50% of this impact is estimated to come from 5 sectors of the economy: Financial & Insurance Services, Wholesale Trade, Manufacturing, Services and Information & Communication Services.

The survey reveals that the adoption of Gen AI by Greek businesses across all sectors is still at an early stage. Approximately 15% of the businesses surveyed reported that they have begun experimenting with this advanced digital technology, though 8 out of 10 believe that adopting Gen AI solutions could improve efficiency and stimulate growth. However, 2 out of 3 companies in the Digital Technology sector admit that they have yet to adjust their strategy to incorporate Gen AI solutions.

Moreover, 3 out of 5 companies in the sector predict that Gen AI will create substantial support needs in other sectors of the economy, thus intensifying the challenge of finding skilled personnel, as there is a significant gap between supply and demand for ICT specialists. According to the study, the most sought-after skills missing from the workforce are deep learning, neural networks and natural language processing.

The study also projects a significant increase in the gap between supply and demand for ICT specialists, with the shortfall expected to increase by ~25.500 professionals, reaching a cumulative total of ~83.000 gap in specialists by 2030.

The implementation of policy measures to reduce the ICT skills gap is becoming imperative, with particular importance now being given on implementing focused and fast-track skills development programs, particularly for STEM graduates and individuals from other academic backgrounds. These programs should lead to certifications highly sought by the labor market.