London, United Kingdom. British Cypriot entrepreneurs Theo Paphitis and Touker Suleyman shared their experiences and views on entrepreneurship, artificial intelligence and the role of the diaspora at a Cyprus Forum London event at the Cyprus High Commission in London. The event highlighted the contribution of the Cypriot diaspora to British society and its role in supporting Cyprus’ economic development.
Discussion on entrepreneurship and diaspora
The discussion addressed the challenges facing modern businesses, the impact of artificial intelligence, support for young entrepreneurs and the future of relations between Cyprus and the United Kingdom.
Both businessmen reflected on their families’ arrival in Britain and the opportunities they found despite the difficulties of adapting to a new country. Paphitis recalled arriving in Manchester in 1966 and spoke about the efforts made by Cypriot immigrants to create better prospects for future generations. Suleyman said his family arrived from Cyprus in the late 1950s.
Views on business success
The two entrepreneurs said that success in business does not necessarily require revolutionary ideas, but depends on integrity, passion, hard work and perseverance.
Suleyman said young entrepreneurs should focus on improving existing products and services rather than trying to reinvent everything. Paphitis said it is important to understand the market and competitors, adding that many businesses fail because founders do not carry out sufficient preparation before launching.
Artificial intelligence and business
A significant part of the discussion focused on artificial intelligence, which both speakers described as a technology that will fundamentally reshape business operations.