Powersoft, a leader in business software solutions, proudly announces the official launch of its innovative AI plug-in project for Data Analytics, supported by €150,000 in funding from the Research and Innovation Foundation IDEK under the “PhD in Industry” program.

The project, expected to redefine data analytics on a global scale, commenced today with a strategic meeting at Powersoft’s headquarters in Nicosia.

The inaugural meeting brought together key stakeholders, including George Malekos, CEO of Powersoft. Chrysó Mousikou, Head of Data Analytics at Powersoft. Dr. Andreas Konstantinides, a distinguished academic from Frederick University and project lead. and Michalis Pasiourtides, the PhD candidate leading the research and development. This collaboration marks a significant step towards creating a groundbreaking AI tool with global reach.

Designed for seamless integration into any software platform, the AI plug-in aims to revolutionize data analytics by providing businesses with advanced tools for real-time insights, forecasting, and intelligent decision-making. This initiative highlights Powersoft’s commitment to developing transformative solutions that empower organizations across industries.

A crucial factor in the project’s success is the unwavering support of IDEK, particularly from Mr. Loukaides, President of IDEK. “Mr. Loukaides patiently guided us through the funding process and passionately conveyed the significance of this initiative,” said George Malekos, CEO of Powersoft. “His dedication not only reinforced our confidence in the project’s potential but also ensured that Powersoft could retain Michalis Pasiourtides, a vital team member, as a PhD candidate for the next three years. With his help, we are developing a tool that will take data analytics to the next level globally.”

Chrysó Mousikou, overseeing the project’s data analytics efforts, added: “This plug-in will offer a flexible, AI-driven solution that enhances efficiency and provides actionable insights across platforms. It represents a revolutionary step in how we perceive and utilize data.”

Dr. Andreas Konstantinides from Frederick University emphasized the synergy between academic and industrial research: “This collaboration combines cutting-edge research with practical application. By mentoring Michalis as a PhD candidate, we are developing a tool with a global impact, promoting innovation in Cyprus.”

Michalis Pasiourtides, the PhD candidate leading the project, shared his vision: “By leveraging the latest advancements in artificial intelligence, this plug-in will deliver unparalleled flexibility and performance, enabling businesses to thrive in a data-driven world.”

Today’s meeting focused on defining the project timeline, establishing key milestones, and strengthening the collaboration between Powersoft’s industry expertise and Frederick University’s academic rigor. The €150,000 funding from RIF highlights the initiative’s role in driving innovation and economic growth in Cyprus and beyond.

Powersoft invites industry professionals, partners, and media to follow the progress of this groundbreaking project. For more details about the initiative or Powersoft’s innovative solutions in AI and data analytics, visit https://powersoft365.com/el/solutions/ai-data-analytics.

source: https://inbusinessnews.reporter.com.cy/article/2025/2/27/823562/e-powersoft-xekina-protoporiako-ergo-ai-gia-analuse-dedomenon-me-khrematodotese-eur150000-apo-idek/