In 2026, 43 per cent of Cyprus CEOs reported that the availability of key skills was a major threat to their businesses. Meanwhile, AI is shifting how professionals are trained. Even without coding backgrounds, people can build working prototypes, use AI tools to support complex analysis, and help develop solutions.
The question is whether these results reflect a professional’s real abilities. What skills should young people develop when technology can already handle much of the technical work?
On October 24, 2026, the Zubr Capital Young Hackathon returns to Cyprus. This time, the event will be devoted entirely to AI products. It is one of the educational initiatives run by Cyprus-based growth equity firm Zubr Capital to help develop young talent.
In the interview that follows, Alena Padalnitskaya, who leads Zubr Capital’s student programmes, explains which skills remain crucial, even in the age of AI. She offers insight into how practical training develops talent and why investment funds have a stake in developing the next generation of professionals.
Q: Alena, with the AI boom providing more access to knowledge and powerful tools, you would think the talent shortage is shrinking. Why are Cypriot businesses increasingly worried about a lack of skilled professionals?
A: The reason is that having access to knowledge and being able to apply it are two different things. Information is easier to find, and new tools can handle many professional tasks. That doesn’t mean it’s easier to find people who can solve business challenges independently.
We often witness this in our work with younger professionals. Many come equipped with a theoretical foundation, but struggle with application. Some keep waiting for more instructions or data. That’s not how business works. You have to assess risks, choose between imperfect options and then take responsibility for whatever happens next.
That gap between knowledge and the ability to apply it costs fast-growing companies. When employees can’t prioritise and make decisions on their own, managers have to intervene, costing time and money. That dependence on management can impede future growth even if money and technology are available.
Q: But AI has the power to go beyond information sourcing. It can analyse data and propose potential solutions. How does this impact what employers need in today’s professionals?
A: AI is helpful in data gathering and processing. It can find possible solutions much faster. We welcome the use of these tools and see them as an important part of the modern professional environment. However, you cannot simply accept a model’s answer, even when it looks convincing.
Working professionals need to understand what AI can do. They also need to understand the data and assumptions behind its results. They need to verify those results, evaluate the information critically and judge whether they apply to the specific business problem. AI can offer several options, but a human still has to choose between them, assess the risks and take responsibility for the decision.
That’s a big reason why, along with technical knowledge and structured analytical thinking, the ability to make decisions under uncertainty is increasingly valuable. As more routine tasks are handed over to technology, independent thinking and responsibility become even more important.
Q: As AI changes priorities in professional training, how are businesses responding? Is it enough to find candidates with the right skills or should companies help train them?
A: Fast-growing companies are finding it increasingly difficult to rely solely on hiring fully-trained professionals. Knowledge alone isn’t enough. The challenge is finding candidates who can quickly step into a role, make decisions and take responsibility. Working with future professionals before they start their careers is important to close this gap.
For investment funds, this is especially relevant. They see the same constraints across different portfolio companies. At that point, the problem goes well beyond HR. Capital alone won’t drive growth if teams lack people ready to take on responsibility. That’s why we believe in engaging with students while they’re still at university, complementing their academic education with practical experience.
At Zubr Capital, we use two approaches: our seven-month League of Analysts programme and one-day hackathons. They address different aspects of the same challenge: preparing young professionals to make independent decisions in real business settings.
Q: What changes when businesses or investment funds get involved in training university students? Can this build a bridge between academic education and market needs as AI becomes more widely used?
A: First, the nature of the tasks changes. University students are usually expected to demonstrate mastery of the material. They need to apply knowledge correctly in controlled settings. In business, people have to assess situations, make decisions and consider their consequences, often without complete information.
AI has made this difference more pronounced. Tools can complete some technical work faster, but they cannot replace understanding of the business context or responsibility for the outcomes. That’s the principle behind the League of Analysts. It gives students a way to apply the theoretical knowledge they’ve gained to real investment cases. They test hypotheses and assess alternatives.
For example, in their final project, participants develop several strategic options for one of our portfolio companies and calculate the financial impact of each. That means they have to go beyond building a good model. They also explain why a company should choose a course of action. In our 2025 programme, several student proposals were included in the 2026 development plan of one of our portfolio companies.
Of course, final decisions remain with the company’s management, but this offers a fundamentally different kind of practical experience. Participants’ work is assessed not just as an academic exercise, but also for its practical value to the business.
Q: The upcoming hackathon in Cyprus you’re hosting is for AI products. Will you be developing the same kind of independent decision-making skills as with the League of Analysts?
A: The overall goal is the same, but the emphasis is a little different. The League of Analysts focuses more on depth of understanding, assessing consequences and accountability in decision-making. The hackathon puts attendees under extreme time pressure. It’s a single-day event. A team must go from ideas to a working prototype to an investor pitch. Fast decision-making is at the forefront of the activities. That requires setting priorities, allocating limited resources and making fast trade-offs.
This year’s focus on AI products reflects the changing environment. Building a working prototype often required significant technical resources. Now participants can build a prototype without advanced programming skills. That doesn’t mean the outcome is fully viable. Participants must understand which problems are worth solving with AI, how to test hypotheses, how to assess the solution’s limitations, and how to evaluate current market prospects.
The hackathon prepares participants to work in a real-world environment where AI is part of everyday professional practice. It’s not just about mastering new tools, but learning to use them thoughtfully by identifying opportunities, critically evaluating results and making independent decisions. The intensive setting lets participants practise these skills over just a few hours, as they build a prototype and justify each key decision.
Q: It’s safe to say not all participants will end up working at Zubr Capital or a portfolio company. Why does it make sense for the fund to invest in training them?
A: Our development initiatives are not just about filling vacancies. At Zubr Capital, we often talk about three components of business growth: leader, team, and capital. Two of those three elements are people. You can invest in a promising company, but it needs strong leadership and a capable team to succeed.
We want to find qualified professionals, but also develop the next generation of talent. Not everyone will join the fund or a portfolio company directly, but our goal is to keep all participants connected to the Zubr Capital ecosystem. We want those relationships to continue beyond the programmes themselves.
That brings us back to where we began. AI opens new opportunities, but realising those benefits requires people who think independently, make decisions and take responsibility. For us, investing in that talent is not simply an educational add-on, but part of a long-term approach to business growth.