During a conversation with journalist Connie Loizos at a TechCrunch event, Kyriakos Mitsotakis discussed startups and workforce development, expressing optimism about the future. “We’ve shifted the narrative around our potential, which isn’t a selfish viewpoint; our greatest asset is our human capital,” he remarked.
The Prime Minister highlighted the government’s efforts from the outset to create a favorable environment, which includes stock options, an investor-friendly ecosystem, and initiatives aimed at encouraging the return of expatriates. “We’re witnessing their return, particularly in the AI sector,” he emphasized.
“We possess incredible talent. The challenge is how to reconnect with those individuals. Perhaps we should elaborate more on our AI strategy,” he added.
“Our goal is to surpass our current capabilities. We aim to leverage technology not just to catch up, but to excel beyond many European nations,” he stated, referencing a dialogue with Germany’s new Chancellor, who mentioned establishing a digital policy ministry, similar to Greece’s approach.
Mitsotakis pointed out that technology, especially AI, offers a significant opportunity to enhance public services. It’s about more than just startups; it involves how we can utilize these services and how the government can adopt a startup mentality. “What constitutes a ‘startup state’ may not be immediately clear, but we sometimes operate more innovatively than the private sector. Beyond tax incentives, the real draw for returnees is the availability of meaningful job opportunities and the chance to make impactful contributions through their businesses,” he explained.
He also addressed capital markets, questioning why Europe continues to send its savings to the US. “What does it mean for a company to be listed on a European stock exchange? I am pleased to see the Greek stock market on the rise again,” he said.
The Prime Minister stressed the advancements made in digital governance, attributing them to the National Digital Transformation Strategy initiated by the government in 2019. “All applications have been integrated into a cohesive framework, allowing us to consolidate data and provide seamless digital services outside of individual ministries. Efficient online services from the Ministry of Digital Governance benefit citizens and enhance the minister’s reputation,” he noted, citing the fully digital vaccination program during the pandemic as a groundbreaking example. “There was no paperwork involved, which astonished my colleagues in the US,” he added, also mentioning that they later adopted European initiatives for travel certificates, highlighting the innovative nature of these efforts.
Looking ahead, Mitsotakis underscored the importance of AI, explaining that it has streamlined processes such as the Land Registry, reducing contract checks from two hours to just ten minutes. “AI can play a vital role in areas like Civil Protection and public health,” he stated, emphasizing Greece’s advantage in having an established digital health system and valuable data from extensive preventive screenings. “This is crucial for improving citizen health and creating opportunities for companies to test and potentially export applications,” he remarked.
He also discussed advancements in defense, noting the establishment of an innovation center within the Ministry of Defense for product testing. “This allows us to conduct small contracts, evaluate technologies, and give Greek startups a platform to demonstrate their innovations. If I were an investor, I would focus on this sector given the funding available and the openness to innovative thinking. We’re not limited to traditional defense contracts; there’s much more potential,” he asserted.
Mitsotakis called for broader reforms to accelerate the justice system, stressing that a stable investment climate is essential. “The most significant factor, although intangible, is confidence. Investors looking at Greece consider the overall situation: Is this a stable country moving forward? The answer is ‘yes,’ and I believe investors recognize this. Who would have anticipated Greece achieving primary surpluses and maintaining fiscal discipline? Unlike the US, we cannot afford large deficits. Our fiscal discipline and structural reforms enhance our credibility, particularly with regard to political stability. Investors aren’t just focused on individual companies; they assess the broader environment, and Greece today is a stable nation with a forward-looking agenda,” he emphasized.
“We aim to ensure that progress is irreversible and build on our momentum. Time is of the essence, and we must proceed decisively while being vigilant against misinformation and AI-fueled bots,” he elaborated.
Lastly, addressing a personal concern, he raised awareness about the mental health of children and teenagers. “What impact does living in a digital world, with excessive screen time, have on their health, education, and future? Europe must step up to harness AI’s vast potential while also addressing its darker implications,” he concluded.
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