A recent study by ECOVIS International, the global consulting network of which Ballas Pelecanos Law is a member, shows that Artificial Intelligence (AI) remains strikingly underused in companies worldwide, despite its clear benefits in efficiency, cost savings, and productivity.
The findings point to an unexpected cause: a widespread lack of knowledge and trust. In 36 participating countries, uncertainty about what is legally permitted and how AI can be safely implemented turned out to be a greater obstacle than concerns over data protection or access to technology. As ECOVIS Management Board member Richard Hoffmann noted, “Only those who know what they can and are allowed to do will use AI.”
Greece stands out as one of the few EU Member States with standalone AI legislation (Law 4961/2022) already in force since 2023. The law complements the EU AI Act by introducing transparency duties for public bodies, governance mechanisms, and workplace obligations such as notifying employees when AI is used in hiring or evaluation. While the framework is ambitious, many companies still struggle with awareness and practical compliance, mirroring the study’s findings that lack of knowledge, rather than technology itself, remains the biggest barrier to AI uptake.
The study also identifies the public and healthcare sectors as areas with the highest potential for AI-driven innovation, provided that legal certainty and trust in regulatory systems are strengthened.
