Hi-Tech 2025

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SHAPING THE DIGITAL ECONOMY SPECIAL EDITION 2025

CONTENTS COMMENT

04 E mpowering Innovation and Driving Economic Growth

12 Comprehensive Solutions for Digital Transformation Milorad Stojanović

Director of the Cloud and IT Infrastructure Sector

Darko Šehović

Information Security Manager, Data Cloud Technology (DCT)

06 E nhancing Services for Citizens and the Economy Dr Mihailo Jovanović

Director of the Office for IT and eGovernment

14 INNOVAtion is a Key Part of Our Identity Goran Medić

Director, INOVA-geoinformatika

15 A I in Practice comtrade

10 Driving AI Growth through Innovation and Collaboration Prof. Dr Dubravko Ćulibrk

Director of the Research and Development Institute for Artificial Intelligence of Serbia (IVI)

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16 A I is a tool that unlocks human potential Predrag Skoković

Managing Director, Quality House Serbia

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HI TECH 2025 17 Secure, Analyze, Advance Lena Perović

Co-founder & Business development manager, Developico

18 S ecurity in the Digital Environment Andrej Stojić

Director of Cyber Security Integrations, Oktacron

FEATURE

19 E merging Technologies Shaping the Future of the Digital Economy OPINION

20 C rypto’s Next Big Leap

By David Veselinović

CEO & Founder, Crypto12

OPINION

22 W ill AI Mean Higher Taxes? cordmagazine.com

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COMMENT

EMPOWERING INNOVATION AND DRIVING ECONOMIC GROWTH As the digital economy continues to evolve at an unprecedented pace, Serbia is positioning itself as a regional leader in embracing cutting-edge technologies. This special issue explores how Serbia’s private and public sectors are harnessing the power of digitalisation to create a more connected, efficient, and transparent economy he future of the digital economy hinges on a delicate balance of innovation, collaboration, and investment. While Serbia is making substantial strides in digitalisation, the true challenge lies in ensuring these technological advancements are accessible to all sectors of society, fostering equitable growth. Companies like Octakron, SOX, and Quality House are not just adopting new technologies but devel-

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WITH A FOCUS ON AI, DIGITAL SERVICES, AND CLOUD INFRASTRUCTURE, SERBIA IS PAVING THE WAY FOR A DIGITALLY TRANSFORMED ECONOMY. HOWEVER, A MORE INCLUSIVE, TRANSPARENT, AND SUSTAINABLE APPROACH IS NECESSARY FOR ALL SECTORS TO BENEFIT FROM THIS DIGITAL FUTURE cordmagazine.com

oping solutions that could empower businesses and citizens. However, questions remain as to how swiftly Serbia can overcome its infrastructural limitations and attract sufficient investment to maintain this momentum.

The National Data Centre in Kragujevac is an important infrastructural asset, and it must continue to expand and adapt to global digital demands. Collaboration between government and private enterprises is a cornerstone of this growth, yet it is crucial that these partnerships remain sustainable, inclusive, and future-focused.

Without a comprehensive strategy that includes robust data security and digital literacy, Serbia risks falling short of its potential to emerge as a global digital economy leader.

This issue delves into the role of artificial intelligence, cloud computing, and digital services in shaping Serbia’s future economy. While these technologies promise increased productivity, growth, and a higher standard of living, Serbia must ensure that its digital initiatives do not just cater to tech giants but also empower small businesses, rural areas, and citizens with limited access to digital tools.

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Photo Peđa Vučković

DR MIHAILO JOVANOVIĆ Director of the Office for IT and eGovernment

INTERVIEW

ENHANCING SERVICES FOR CITIZENS AND THE ECONOMY Serbia’s digital transformation is accelerating the development of eGovernment and artificial intelligence, enabling citizens and businesses easier access to services and increased administrative efficiency

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r Mihailo Jovanović, Director of the Office for IT and eGovernment, reflected on key public administration digitisation projects in Serbia. Through the introduction of new eGovernment services, the application of artificial intelligence, and the development of infrastructural resources such as the Government Data Centre in Kragujevac, the plan is to enhance services for citizens and businesses, all aimed at increasing the efficiency and transparency of the administrative system.

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The digitisation of public administration in Serbia is becoming more comprehensive. What are the key new eGovernment services planned for citizens and businesses in the near future, and how will they contribute to

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Serbia is a leader in the region in applying artificial intelligence within public institutions. What are the specific examples of its use in government administration, and what role will the new artificial intelligence development strategy until 2030 play?

— Regarding the Office for IT and eGovernment and the eGovernment Portal, an AI assistant is being prepared, which will allow citizens not only to find information but also to use eGovernment services in a new and simpler way. This virtual assistant will provide citizens with quick and accurate answers to questions, as well as support when using services on the eGovernment Portal.

We already apply artificial intelligence in medicine when analysing various screenings. The artificial intelligence development strategy until 2030 ensures that our country follows modern trends and serves as a basis for further developing the regulatory framework – the Artificial Intelligence Law. A Working Group has been formed to draft this Law, with the task of creating a document that will be aligned with European Union legislation, while also adjusting it to the specificities cordmagazine.com

of the AI ecosystem in Serbia. In line with the new strategy, we will also invest significant funds in expanding the National Platform for the Development of Artificial Intelligence – a supercomputer, which we aim to offer to small and medium-sized enterprises to help them develop their own solutions. We will continue to improve our cooperation with leading AI companies and researchers worldwide, with the aim of becoming a regional centre for AI innovation.

the further development of the IT sector, economy, and science.

This unique complex in the region, which will cover more than 4 hectares, will combine business, research, and educational spaces, with advanced centres for bioinformatics, a centre for the devel-

tion District, affect the development of the IT sector, investment attraction, and the country’s research potential?

— The Government Data Centre in Kragujevac has become the backbone of Serbia’s digital transformation, and its expansion through the construction of the Innovation District marks a turning point in

opment of smart energy systems, as well as a National Centre for Information Security.

The first phase, with 4,700 m2 of business space and a 10,000 m2 garage, will be completed by 2025, while by 2027 a total of 35,000 m2 will be built, including two buildings for the users of the Government Data Centre and the central

NEARLY 2.5 MILLION ECITIZENS ARE REGISTERED ON THE EGOVERNMENT PORTAL, USING HUNDREDS OF DIFFERENT The Government Data Centre in Kragujevac is becoming a key ELECTRONIC SERVICES BY ACCESSING technological and infrastructural resource for Serbia. How will THE EGOVERNMENT PORTAL AS WELL AS its further expansion, alongside the construction of the InnovaMANY OTHER GOVERNMENT PORTALS

Photo Marina Jančević

the efficiency and transparency of administration?

— Nearly 2.5 million eCitizens are registered on the eGovernment Portal, using hundreds of different electronic services by accessing the eGovernment Portal as well as many other government portals.

In the coming period, the focus of the Office for IT and eGovernment is to make electronic services and the eGovernment Portal available on mobile phones, so that services are more accessible and easier for all citizens to use. Our focus is also on developing a Digital Wallet – a place where citizens will be able to store various personal documents and electronically signed documents in a special application on their mobile phones, further simplifying all administrative procedures for citizens.

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Given the increasing digitisation of public services, how is Serbia preparing to ensure a high level of protection for citizens’ and institutions’ data from cyber threats? Are there plans for new legal solutions or

Photo Marina Jančević

building – the “heart of the district.” In addition to attracting investment and creating new jobs for IT professionals, the district will also be a centre for innovation open to citizens. With the Science and Technology Park and the recon-

technological improvements in

area?

THE GOVERNMENT DATA CENTRE this — The Government of the Repubof Serbia has adopted the proIN KRAGUJEVAC HAS BECOME licposed Law on Information Secuwhich has been forwarded THE BACKBONE OF SERBIA’S rity, to the National Assembly of the of Serbia. This law enDIGITAL TRANSFORMATION, AND Republic visages improving the regulatory ITS EXPANSION THROUGH THE framework to keep up with modtrends and ensure a secure CONSTRUCTION OF THE INNOVATION ern environment in ICT systems. The law also provides for DISTRICT MARKS A TURNING POINT IN proposed the establishment of the Office Information Security to hanTHE FURTHER DEVELOPMENT OF THE IT for dle tasks related to the prevenand protection from securiSECTOR, ECONOMY, AND SCIENCE tion ty risks and incidents in ICT sysstructed building of the former Cereal Centre, it will combine historical heritage with technological future, positioning Kragujevac at the forefront of Serbia’s digital map.

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tems in our country. We are proud of the progress made in enhancing information security in our country, with the establishment of a Security Operations Centre (SOC) team that ensures the safe-

ty of information systems located in the state cloud, in the Government Data Centre in Belgrade and Kragujevac, as well as in the systems of state institutions. The key role in protecting the systems is played by the team of engineers and analysts, who are responsible for analysing, detecting, and preventing cybersecurity incidents, working 24/7. Additionally, we are one of the first countries in Europe to apply AI in the field of information security for defence purposes. The Office for IT and eGovernment uses AI as a tool to assist engineers in solving information security problems. In fact, AI helps us interpret events and define recommendations for responding to security incidents.

How is Serbia preparing to support Expo 2027 in Belgrade with its digital infrastructure?

— At the end of April this year, ahead of EXPO 2027, all foreign nationals will be able to apply for an electronic visa via the Foreigners Portal (Welcome to Serbia). This will allow people from around the world to quickly and easily submit a visa application online, without needing to visit consular offices. The visas will be electronically stamped and delivered via email. The Ministry of Foreign Affairs is one of the first institutions in the Republic of Serbia to begin using the eStamp in the cloud, the latest technical solution of eGovernment, which significantly simplifies and speeds up the electronic visa issuance process. This is a significant step forward in the further digital transformation of the Republic of Serbia and in facilitating the arrival of foreigners into our country, which will host the EXPO 2027 specialised exhibition in less than two years. Additionally, we have quickly launched an informational platform to support the organisation of EXPO 2027, which is stored in the Government Data Centre in Kragujevac.

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ince its inception, the Institute has been focused on developing a culture and regulatory framework that stimulates innovation and technology transfer.

The intellectual property regulations of this youngest accredited Serbian institute have served as a model for numerous institutes participating in the Innovation Acceleration and Entrepreneurship Growth Project in the Republic of Serbia. This project represents a unique attempt to reform the scientific research community, and the Institute actively participates in these efforts. Collaboration with the Intellectual Property Office enables the education and skill development of researchers, as well as the enhancement of the Office’s activities in the field of artificial intelligence. At the level of individual projects and technologies, the Institute leads the way in patent protection, the responsible and ethical use of data for AI model development, certification of AI-enabled medical devices, and other innovative processes.

“Each project is significant in its own way and changes the environment in which we work, but, in my opinion, the greatest long-term impact on the economy will come from the professionals educated at the Institute – whether as founders of their own companies or as leaders in large corporations,” emphasises the Director of IVI.

Photo Nebojša Rudić

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PROF. DR DUBRAVKO ĆULIBRK Director of the Research and Development Institute for Artificial Intelligence of Serbia (IVI)

INTERVIEW

DRIVING AI GROWTH THROUGH INNOVATION AND COLLABORATION The vision of the Institute for Artificial Intelligence of Serbia is to become a global centre of excellence in scientific research and the transfer of technology in the fields of artificial intelligence and machine learning in our country. The Institute also strives to cultivate innovative leaders in the field of AI – Dubravko Ćulibrk

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Serbia strives to become a regional hub for research and development in the field of artificial intelligence. What are the key factors for attracting foreign investment in this field, and how does the Institute collaborate with the private sector and government institutions in this process?

— Just before the founding of the Institute, it became clear that there were already opportunities for foreign investments, mostly initiated by the involvement

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of people of Serbian origin in the diaspora. However, our ecosystem had limited capacity to support AI development, primarily due to the lack of sufficiently experienced and educated experts capable of leading the development of AI-based products. This was one of the primary motives for establishing the Institute.

The key factors for attracting foreign investments are talent development (education), recognisability, and the quality of scientific results and products coming from our ecosystem. The latter two factors not only demonstrate the capacity of our research community but are also the best form of promotion.

Automation and the application of artificial intelligence inevitably affect the labour market.

How does the Institute view the future of the workforce in Serbia, and what steps are being taken to help develop the necessary skills and adapt the education system to the new demands of the market?

— The Institute is not an educational institution, but it serves as a repository of knowledge, which we transfer to other institutions and colleagues, mainly through workshops, participation in conferences, and similar events. Our collaboration with the NVIDIA Deep Learning Institute allows us to offer their courses, which require significant computing resources, but which NVIDIA donates to us. Furthermore, some of the Institute’s researchers, including myself, participate in teaching at universities in Serbia. However, our primary role is the development of highly skilled personnel through practical work on research projects.

When we speak of the future workforce, the focus of AI application in the areas we work in is on sectors where there is a labour shortage and on technologies that help people be more efficient rather cordmagazine.com

than replacing them. At this moment, AI in Serbia is primarily contributing to increased productivity and the creation of new jobs.

However, it is certain that a certain number of people will need to retrain, while many will need to further educate themselves in the field of using AI technologies.

The recent partnership with Google DeepMind and the organisation of EEML 2024 represents a significant step for Serbia. How can such collaborations contribute to enhancing

versity, Harvard, EPFL, ETH, and other prestigious institutions.

Unfortunately, we do not expect EEML to return to Serbia soon, but we continue close cooperation with the organisers, meaning that our researchers will have the opportunity to participate in this event every year, regardless of the location.

In Serbia, there are organisations like the Serbian AI Society and Serbian Researchers, designed as bridges between domestic and international scien-

THE INSTITUTE ACTIVELY PARTICIPATES IN THE REFORM OF THE SCIENTIFIC RESEARCH COMMUNITY IN SERBIA THROUGH INNOVATION, TECHNOLOGY TRANSFER, AND THE IMPROVEMENT OF THE LEGAL FRAMEWORK FOR INTELLECTUAL PROPERTY the knowledge and research capabilities of our students and researchers?

— The significance of such events is practically impossible to measure, as their impact will extend for decades into the future. EEML was attended by participants from 47 countries, mostly young researchers who have established lasting connections with our young collaborators. They had the opportunity to learn about the latest issues and solutions in the field of AI from world-class researchers, including the closest collaborators of two of the three winners of the Turing Award for deep learning technology – the foundation of virtually all modern AI systems. During the six-day summer school, young researchers from Serbia and the region became part of the global scientific community and gained an advantage in knowledge development compared to any individual educational institution in the world, as they learned from lecturers from Oxford, Cambridge, New York Uni-

tists. How can such platforms contribute to the global recognition of the Serbian scientific community?

— The most important contribution of these organisations lies in connecting our researchers worldwide. This global community represents a significant potential that has yet to be fully exploited. Although the direct impact of these organisations on the global recognisability of the Serbian scientific community is not decisive, they certainly encourage collaboration between domestic and international researchers. However, for international recognisability, the key factors are the quality of scientific publications and participation in leading global conferences. Organisations like SAIS and Serbian Researchers help connect young talents from Serbia with our successful researchers abroad, enabling them to work on globally relevant projects and prepare for publication in the most prestigious scientific journals and conferences.

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COMPREHENSIVE SOLUTIONS FOR DIGITAL TRANSFORMATION In today’s dynamic digital landscape, companies face increasing challenges related to IT infrastructure, data security, and business continuity. Data Cloud Technology (DCT) has positioned itself as a trusted partner, offering comprehensive IT solutions in cloud services, colocation, escrow services, and cybersecurity.

The tools they employ ensure security and seamless integration for all their clients

MILORAD STOJANOVIĆ, Director of the Cloud and IT Infrastructure Sector, and DARKO ŠEHOVIĆ, Information Security Manager, Data Cloud Technology (DCT)

e had the opportunity to speak with experts from DCT: Milorad Stojanović, Director of the Cloud and IT Infrastructure Sector, and Darko Šehović, Information Security Manager, who provided insight into the company ’s operations.

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How does DCT tailor its services to the needs of different industries?

— Milorad Stojanović: “DCT understands that each industry has specific requirements when it comes to cloud infrastructure. That is why we take an individual approach to every client, analysing their business processes and customising our

solutions to achieve optimal results. On the other hand, data security and availability are mandatory needs for every company, regardless of industry.

Since the state built the most advanced Data Centre in this part of Europe, certified to the highest EN50600 (Tier 4) standard for construction, management, and

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maintenance quality, we can proudly say that in nearly five years of operation, we have not experienced a single second of downtime. This is despite the fact that the standard prescribes 99.995% availability, allowing for 18 minutes of downtime annually. This level of reliability has been recognised by major global companies such as Oracle, IBM, Huawei, and BET365, as well as numerous domestic and regional firms, including nearly all telecom and service provider operators that have placed their equipment and data in our Data Centre.

However, Data Cloud Technology did not stop there. As the next step in our growth, we established a highly available and reliable Public Cloud environment based on the IaaS/PaaS model. It

ery in the event of a disaster, whether it be a natural disaster, cyberattack, hardware failure, or human error. The service includes continuous data replication and virtual machine synchronisation with our Data Centre, providing real-time data updates and an automated failover process to minimise business interruptions.

DAaaS, on the other hand, is a proactive service aimed at preventing disasters rather than simply recovering from them. This service focuses on predicting and mitigating potential risks that could lead to business disruptions. The key features of a successful DAaaS process include proactive and continuous monitoring of IT infrastructure and applications, identifying and assessing potential threats to business operations, opti-

DCT UNDERSTANDS THAT EACH INDUSTRY HAS SPECIFIC REQUIREMENTS WHEN IT COMES TO CLOUD INFRASTRUCTURE. THAT IS WHY WE TAKE AN INDIVIDUAL APPROACH TO EVERY CLIENT, ANALYSING THEIR BUSINESS PROCESSES AND CUSTOMISING OUR SOLUTIONS TO ACHIEVE OPTIMAL RESULTS is worth noting that our cloud virtualisation environment hosts the information systems and data of foreign banks, university clinical centres, and general hospitals in Serbia, as well as the three largest energy companies in the country.”

What new developments and innovations in cloud technology is DCT planning for the future?

— Milorad Stojanović: “By keeping pace with the latest trends, we have identified a growing need for solutions that ensure business continuity and disaster protection. As a result, we are focusing on the development of services in this domain: DRaaS (Disaster Recovery as a Service) and DAaaS (Disaster Avoidance as a Service).

DRaaS is a cloud service that enables organisations to replicate and host their physical or virtual servers in a cloud environment, providing a backup location for data storage. This ensures rapid recovcordmagazine.com

mising system performance, and implementing redundancy to eliminate single points of failure.

In this context, we are also working on establishing our optical ring, based on DWDM technology. This will enable us to provide end-to-end high-speed and reliable connectivity between our Data Centre and our clients’ primary locations, with data transmission speeds of up to nx100Gbps at the IP level and nx64Gbps at the FC level.”

Colocation is a service that enables companies to rent physical space for hosting their servers and network equipment within the professionally managed environment of the Government Data Centre.

The escrow service provides a secure repository for source code. We offer the highest industry-standard network protection, utilising state-of-the-art data storage technologies to ensure source code remains safeguarded from unforeseen events.

How does DCT ensure a high level of security for its clients?

— Darko Šehović: “The rapid pace of digitalisation has presented many companies with significant challenges in ensuring adequate cybersecurity for their systems and information, which are now the lifeblood of every digital framework.

From its inception, the Government Data Centre set the bar exceptionally high, implementing the most stringent security standards, covering both physical and technical security, as well as information security protocols such as SOC2, PCI-DSS, ISO 27001, ISO 27701, and numerous other regulations and standards.

Numerous international clients, representatives of critical infrastructure, and the public sector have not only shaped our trajectory but have also been a strong motivation for us to adopt some of the best global practices in the field of cybersecurity. As a synonym for ‚the safest place for your data in Serbia‘, we continuously strive to meet expectations and maintain the highest security standards.

Recognising current trends, we have decided to expand our service portfolio by introducing information security management services in response to the growing shortage of qualified personnel and increasingly sophisticated cyber threats.

Some of the services developed by our young and highly promising team include cybersecurity incident monitoring, detection and response, tracking emerging cyber threats, identifying vulnerabilities within ICT systems, and providing knowledge assessments and cybersecurity training.”

DTC actively contributes to sustainability and environmental balance through innovation and responsible business practices. What is your strategic approach to ESG principles?

— Darko Šehović: “Innovation and responsible business conduct form the foundation of our sustainable future. We are dedicated to ESG principles through efficient resource management, the implementation of sustainable technologies, and energy optimisation. We continuously enhance working conditions, support communities, foster inclusion and ethical standards, ensure transparency, and diligently work on compiling ESG report.”

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INNOVAtion is a Key Part of Our Identity The advanced and innovative solutions of INOVA, best known for its TeleCAD-GIS and INOVA GIS platform, are applied not only in telecommunications but also in the energy sector and other industries

GORAN MEDIĆ director, INOVA-geoinformatika he key to our company’s success lies in our focus on localisation, education, technological agility (IoT, AI), strict adherence to standards, and our ability to provide support tailored to specific market needs, says Goran Medić, Director of INOVA-geoinformatika. We spoke with him about customer expectations, product and service enhancements, and the company’s expansion into new markets.

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Given that the name INOVA stems from the word ‘innovation’, would you say that innovation is at the core of your business and that you have been continuously improving your products and services since day one?

— Innovation is indeed at the core of our business. From the very beginning, we have continuously advanced and improved our products and services, incorporating the latest technological trends. Our goal is to provide the best possible user experience through creative solutions, cutting-edge technologies, and strategic planning. We are constantly researching, listening, and implementing new ideas. For us, innovation is an essential part of our identity and business philosophy!

You have demonstrated a strong customer focus and view the success of your partners as your own.

— From the outset, TeleCAD-GIS, our most renowned product, was designed to enhance efficiency in planning, designing, maintaining, and managing telecommuni-

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cations networks. Thanks to its advanced functionalities and adaptability, it has become an indispensable tool for numerous telecom operators and engineering teams across the region.

As for our customer focus, we have always remained consistent—listening to our users’ needs, developing tailored solutions, and providing support that ensures long-term collaboration. We genuinely see

it is a digital foundation that transforms complex challenges into clear, visualised steps.

Through collaboration with our partners, we continuously enhance the platform to meet the challenges of digital transformation (IoT, AI), reduce maintenance costs, improve resource management, and increase competitiveness. Today, platform components are available across all devices, and we plan to support an increasing number of processes through mobile applications.

WE GENUINELY SEE OUR What is the potential for expanding PARTNERS’ SUCCESS AS GIS platform globally, particularOUR OWN BECAUSE MUTUAL your ly in the context of new technologies and standardisation?

GROWTH AND CUSTOMER — The global expansion potential of both and INOVA GIS platform SATISFACTION CONFIRM THAT TeleCAD-GIS is immense, primarily due to their techuniqueness and compatibility WE ARE ON THE RIGHT PATH nological with global trends. The main challenge our partners’ success as our own because mutual growth and customer satisfaction confirm that we are on the right path.

What role does your GIS platform play in different industries, and how crucial is it for managing complex infrastructure projects?

— INOVA GIS platform is the backbone of our system. Its role is fundamental in integrating, analysing, and visualising spatial data, which is essential for managing complex infrastructure networks. Our platform is not just a tool—

lies in the current landscape, as many telecom operators already use various software platforms, leading to stringent requirements.

Recognising this, we ensure that our users can leverage TeleCAD-GIS to successfully meet all challenges and deliver project documentation that fully complies with standards and investor requirements.

Our success is built on a commitment to localisation, education, technological agility (IoT, AI), strict compliance with standards, and the ability to provide support tailored to specific market needs.

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AI IN PRACTICE How Comtrade System Integration Uses Artificial Intelligence to Enhance Business Operations

OFFERGUARD – SMART AI ASSISTANT FOR REVIEWING OFFERS rtificial intelligence is becoming a key driver of change in modern business. At Com­ trade System Integration, we have recognised this transformation and set a clear strategic direction towards implementing AI solutions that enhance internal processes and add value for our clients.

We are focused on developing sophisticated AI assistants that perform complex tasks, provide proactive support, and function as a network of specialised agents. Our solutions learn from user behaviour, understand roles and work contexts, and enable intelligent assistance in real-time – from meeting preparation and sales activities to analysing market trends.

Technologically, we rely on a modular approach: we create reusable components, ensure flexibility in infrastructure choices (cloud, on-premise, opensource), and set high standards for security and ethical use of AI. Our goal is simple – a balance between innovation and tangible value for users.

One of our most successful AI implementations is OfferGuard, a tool developed precisely with this aim in mind.

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In the business world, preparing and reviewing technical and commercial proposals often involves lengthy processes prone to errors. This is where OfferGuard comes in – an AI tool that automates and optimises this process.

OUR MISSION IS CLEAR – TO FREE EMPLOYEES FROM ROUTINE TASKS AND ALLOW THEM TO FOCUS ON STRATEGIC GOALS Using large language models (LLMs), OfferGuard thoroughly analyses documents and checks them against predefined criteria. Proposals are sent via Microsoft Teams, where OfferGuard performs an automatic inspection of the content and returns clear comments and recommendations to users – all within minutes.

Unlike traditional chatbots, OfferGuard operates as an autonomous agent: it receives a task, processes it in the background, and delivers results without the need for constant interaction. This significantly saves employees’ time while maintaining high standards of accuracy.

Technically, the tool is integrated with Teams via the Azure platform, and the two-phase analysis process – initial scanning and detailed verification – ensures reliable identification of issues. Although currently focused on commercial proposals, OfferGuard’s flexible architecture allows it to be applied to other document types, including contracts and technical documentation.

AI AS A STRATEGIC ADVANTAGE OfferGuard is just part of the broader AI initiative at Comtrade System Integration. Plans are in place for tools to automate HR processes, transcribe and summarise meetings, and systems for tracking and analysing market opportunities.

Our mission is clear – to free employees from routine tasks and allow them to focus on strategic goals.

We believe that companies that effectively implement AI into their processes will gain a significant competitive advantage, and our goal is to be the drivers and leaders of this transformation.

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AI IS A TOOL THAT UNLOCKS HUMAN POTENTIAL For two decades, Quality House has been setting standards in software testing and training. All their employees are certified, and many are also trainers, further strengthening knowledge exchange within the team

PREDRAG SKOKOVIĆ Managing Director, Quality House Serbia t is our responsibility to use AI thoughtfully. We establish clear boundaries, implement safeguards, and always maintain human oversight, says Predrag Skoković, Managing Director of Quality House Serbia, emphasising that this approach safeguards trust—the very essence of quality and the currency of the future in business.

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How do you prepare your teams and trainees for this new era of AI-driven testing?

— Over the past 20 years, we have cultivated a culture of continuous learning and professional development. Today, as AI reshapes our perception of software testing, this culture is more important than ever. Our approach has never been about simply adopting new tools but about fostering a mindset capable of understanding and responsibly applying innovations. We regularly update our training programmes in close collaboration with international organisations such as ISTQB and IREB. By carefully listening to the needs of clients and the industry, we ensure that our training and consultancy services reflect contemporary demands and challenges.

If we consider this period the AI era, what matters is not just what we know but how quickly we can adapt. That is why we prepare our teams and clients for both today’s technology and the changes ahead.

AI should not be seen as a threat but as

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an opportunity to develop new business models—and that requires the confidence that comes from knowledge.

What can you tell us about your participation at the annual ETSI User Conference on Advanced Automated Testing (UCAAT)?

— Although Quality House co-organises SEETEST, the region’s largest software testing conference, we see participation

tion—aligns perfectly with our everyday work: ensuring trust and quality in a world where software is developing faster than ever. UCAAT brings together industry leaders from across Europe, providing a unique opportunity to exchange experiences, learn how others approach testing challenges, and, most importantly, learn from one another. Events like these are crucial for industry growth—quality is not built in isolation but through dialogue and collaboration.

AI SHOULD NOT BE SEEN What opportunities and risks do large language models present?

AS A THREAT BUT AS AN — Large language models undoubtedoffer significant opportunities, from OPPORTUNITY TO DEVELOP lyinterpreting requirements to automatically generating test cases. Their results NEW BUSINESS MODELS— can seem impressive, but they are not always reliable as they operate on matheAND THAT REQUIRES THE matical probability. And here lies the key testing is not just a mechanCONFIDENCE THAT COMES distinction: ical check but a process that requires critical thinking, intuition, and a strong FROM KNOWLEDGE sense of risk. AI can help us work faster, in other events as a way to share our expertise and insights. UCAAT is where knowledge and vision, theory and practice come together. As a speaker, I have the privilege of presenting our perspective on one of today’s most relevant topics: the potential application of large language models in automated testing.

This year’s conference theme—testing in the context of digital transforma-

but it cannot replace our ability to recognise nuances, ask the right questions, or sense when something is “off” even if it appears correct on paper.

At Quality House, we view AI as a tool that enhances human potential. By automating routine tasks, testers can focus more on areas that require creativity and expertise. Decision-making, result interpretation, and risk management will always remain in human hands.

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SECURE, ANALYZE, ADVANCE InSight AI software, developed by the startup Developico and supported by the Innovation Fund, is designed to drive the fast and continuous digitalisation of the Serbian economy, with the potential for a global impact

LENA PEROVIĆ Co-founder & Business development manager, Developico he key advantage of InSight lies in its adaptability and user- centric approach, achieved through proprietary AI models and the integration of inhouse expert knowledge, – says Lena Perović, Co-founder & Business Development Manager at Developico. She explains that this enables users to achieve a significantly higher level of problem identification and much faster resolution.

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What inspired you to develop the innovative InSight software?

— The idea for InSight AI software was born four years ago in collaboration with our partner company Serbian Open eXchange (SOX), a critical ICT infrastructure in Serbia. Gaining insights into statistics and Internet traffic trends is of vital importance. To address this need, we developed InSight—an AI-powered software solution for real-time Internet traffic data analytics.

The software delivered significant benefits for SOX, serving as a successful proof of concept for us. Our innovation lies in learning each customer’s unique network by combining our AI model with years of expertise. Following the proof of concept, we conducted primary market research to

validate our idea, which provided the necessary momentum to move forward.

The support and trust we received from the Innovation Fund had a significant impact. The project is financed by the Innovation Fund from the European Union Pre-Accession Assistance and from the budget of the Republic of Serbia, the line of the Ministry of Science, Technological Development and Innovation.

Which problem does InSight address, and how?

— We aim to tackle the global challenge of information security.

One of the key issues we identified is the shortage of tech personnel, who play a crucial role in ensuring the seamless operation of core business activities. However, these teams are often overstretched and forced into a reactive mode of operation.

InSight provides a reliable tool for indepth insights into network data, security, and stability, enabling smarter business decisions.

The software is modular, consisting of three independent yet complementary modules: • Internet Security Module – Enables early detection of cyber threats

THE IDEA FOR INSIGHT AI SOFTWARE WAS BORN FOUR YEARS AGO IN COLLABORATION WITH OUR PARTNER COMPANY, SERBIAN OPEN EXCHANGE (SOX), A CRITICAL ICT INFRASTRUCTURE IN SERBIA cordmagazine.com

• Service Continuity Module – Ensures quick identification of disturbances • Business Analytics Module – Identifies new partnership opportunities InSight software utilises cutting-edge AI principles. How can AI further support the digitalisation of the Serbian economy?

— The key differentiator of our software is its ability to adapt to each customer’s specific network by leveraging our AI models and expert knowledge. This empowers users to achieve a much higher level of problem identification and resolution.

The rapid digitalisation of the Serbian economy must not leave gaps in information security. By integrating AI models, InSight ensures uninterrupted progress and protection, empowering further development.

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SECURITY IN THE DIGITAL ENVIRONMENT Cyberattacks are becoming increasingly sophisticated, making data protection essential for business stability.

A proactive approach, advanced technologies, and team education form the foundation of effective defence

ANDREJ STOJIĆ Director of Cyber Security Integrations, Oktacron e spoke with Andrej Stojić, Director of Cyber Security Integrations at Oktacron, about the evolution of cyber threats, the importance of the Zero Trust approach, the role of SOC teams, and the new Information Security Act. He emphasises that cyber security is not a one-off process but a continuous battle requiring technological agility and strategic planning.

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How do you handle the challenges of being a Director of Cyber Security Integrations in an era of advanced cyber threats?

— My role is highly dynamic and requires balancing technological innovation, security risks, and user needs. The key lies in continuously monitoring threats, implementing advanced security solutions, and educating teams. I focus on proactive protection through AI, automation, and the Zero Trust approach, enabling companies to maintain security and operational efficiency in a digital environment.

How have cyberattacks evolved in recent years?

— Cyberattacks have become increasingly sophisticated, targeted, and automated. Artificial intelligence plays a crucial role in enhancing attack methods, allowing attackers to adapt malware in real time, automate exploit techniques, and

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BUSINESS

evade detection by traditional cyber defence tools. This makes attacks more dynamic and harder to detect, posing new challenges for security teams.

How can companies effectively protect their business from modern cyber threats?

— Key approaches to cyber security include a proactive strategy through Security Operations Centre (SOC) teams, implementing Zero Trust architecture, and continuous monitoring and automated threat detection. Beyond advanced technologies, regular employee training on cyber threats and clearly defined incident response plans are essential.

By combining technological solutions, procedural measures, and the human factor, companies can significantly reduce the risk of attacks and minimise their impact.

The role of SOC teams in modern business?

— As I have already mentioned, artificial intelligence is becoming an increasingly advanced tool for conducting cyberattacks, meaning that SOC teams must adapt to these challenges. That is why, at Oktacron’s SOC, we no longer rely solely on traditional detection and defence methods but implement automated and AI-powered tools for advanced threat analysis, rapid detection, and efficient incident response.

What does the new Information Security Act bring, and how does it impact companies?

— The new Information Security Act introduces significant changes aimed at strengthening the resilience of companies and institutions to cyber threats. One of the key changes is the clearer definition of ICT system operators of particular importance, with stricter obligations and increased oversight. Additionally, the role of the National CERT is being strengthened, giving it greater responsibility in coordinating responses to incidents. The Act also introduces stricter penalties for non-compliance with prescribed measures. Furthermore, plans are in place to establish an Information Security Office, which will play a key role in prevention, education, and managing security risks. These changes are a step towards aligning with European standards and enhancing the protection of citizens’ and businesses’ data.

What would be your key message to companies regarding cyber security?

— Cyber security is not a one-off process but a continuous cycle of improvement and adaptation to new threats. Every company must proactively work on protecting its systems and data to ensure business integrity and long-term stability. In this process, Oktacron is a reliable partner, helping clients implement advanced security solutions and stay one step ahead of cyber threats.

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FEATURE

EMERGING TECHNOLOGIES SHAPING THE FUTURE OF THE DIGITAL ECONOMY merging technologies are set to redefine the digital landscape, acting as a catalyst for accelerated adaptation and transformation within the global economy. Four key technologies, in particular, are poised to revolutionise the digital world once again:

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ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING Artificial intelligence—encompassing machine learning, deep learning, and neural networks—continues to evolve, playing an increasingly pivotal role in the digital economy. These technologies are essential for extracting insights from the vast amounts of data generated by digital activities, automating complex tasks, making accurate predictions, and even controlling autonomous systems and robotics. However, current AI models remain limited, and new methodologies must be developed to advance towards Artificial General Intelligence (AGI)—a level of AI capable of human-like reasoning and understanding.

VIRTUAL REALITY, AUGMENTED REALITY, AND THE METAVERSE Immersive technologies such as Virtual Reality (VR) and Augmented Reality (AR) are creating entirely new consumer experiences and unlocking innovative business applications.

Entire industries are being reshaped by virtual interactions, while the rise of the Metaverse suggests a future in which digital spaces host a significant portion of economic and social activities. Looking ahead, a fully realised digital parallel world, complete with its own financial and economic ecosystem, may emerge as an integral part of the global economy.

QUANTUM COMPUTING Although still in its early stages, quantum computing has the potential to be one of the most transformative technological breakthroughs of our time. By solving problems beyond the reach of even the most powerful classical computers, quantum technology could revolutionise fields such as cryptography, medicine, materials science, and the complex modelling of societies. Furthermore, it could enable unprecedented predictive capabilities by analysing vast datasets and contribute to the development of highly interconnected, dynamic 3D virtual environments such as the Metaverse.

These emerging technologies will not only shape the digital economy but also redefine the way we interact, innovate, and conduct business in an increasingly interconnected world. cordmagazine.com

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OPINION

CRYPTO’S NEXT BIG LEAP Donald Trump’s return to the political stage has sent ripples through the financial markets, particularly in the realm of digital assets. His administration has actively championed the integration of Bitcoin and other cryptocurrencies into the U.S. strategic reserves—a landmark move that has drawn global attention and paved the way for deeper institutional involvement hen I arrived in Serbia a few years ago, one of the most surprising discoveries was that the country had already begun shaping a legal framework for digital assets. In fact, Serbia had passed its law even before the European Union introduced its MiCA regulation.

Looking at the broader picture, we can draw intriguing parallels between the development of the internet and the evolution of cryptocurrencies. In the early days of the internet, few could have predicted its all-encompassing influence on modern life. Similarly, cryptocurrencies are still in their infancy, yet their potential applications are boundless.

Scepticism surrounding cryptocurrencies remains high, but rejecting blockchain technology outright is akin to someone in the 1990s dismissing the internet. Just as not all internet companies are created equal, the same applies to cryptocurrencies. One cannot simply ‘disbelieve in cryptocurrencies’—rather, one may choose to dismiss certain digital assets based on their fundamentals. Categorising them all under a single umbrella would be as misguided as lumping together all internet companies.

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By David Veselinović, CEO & Founder, Crypto12

WHERE ARE WE NOW?

Digital assets, as regulators prefer to call them, represent records of value stored on blockchain technology. They serve both as a means

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of exchange and an investment instrument, with decentralised verification ensuring transparency and security. Every transaction is recorded immutably, preventing any possibility of alteration or deletion.

Serbia took a significant step forward in 2021 by enacting the Law on Digital Assets, positioning itself ahead of many developed economies. However, one critical issue persists—banking support.

Despite full regulatory compliance under the National Bank of Serbia, including an official payment code for digital assets, no Serbian bank was willing to open an account for us. Ironically, financial institutions in Switzerland, Germany, and Austria were far more open to collaboration. This paradox is further underscored by the fact that some of these banks’ parent institutions actively engage in blockchain and cryptocurrency initiatives abroad.

Take Raiffeisen Bank, for instance— its Austrian division has an entire blockchain division and established partnerships with cryptocurrency exchanges, while such endeavours remain off-limits in Serbia.

Fortunately, over time, certain banking partners recognised the business potential and extended their support.

LESSONS FROM HISTORY – PAYPAL AND THE ONLINE BANKING REVOLUTION

Innovation in the banking sector has often originated outside

traditional institutions. Many are unaware that the first online banking transaction did not come from a major bank—it was facilitated by Stanford Credit Union in 1994 for its students and professors. Mainstream adoption of online banking only took off in 1999, thanks to PayPal. Elon Musk’s first venture, X.com, aimed to establish a fully digital bank. Following its merger with Peter Thiel’s company, PayPal was born, revolutionising financial transactions. Banks, which initially resisted digital payments, ultimately had no choice but to integrate this technology into their offerings. A similar transformation is unfolding today, with cryptocurrencies leading the next wave of financial innovation. Traditional financial institutions are gradually recognising their inevitability.

INSTITUTIONAL ADOPTION AND MARKET GROWTH

A defining trend of 2024, which is set to continue into 2025, is the institutional adoption of Bitcoin and other digital assets. The entry of major financial players—particularly Wall Street investment funds— has marked a turning point. Regulated Bitcoin exchange-traded funds (ETFs) have enabled largescale investors to securely allocate capital into this digital asset.

In their first year alone, Bitcoin ETFs attracted inflows exceeding $100 billion, making them the most successful ETF products in history.

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Beyond Bitcoin, stablecoins such as Tether (USDT) are playing an increasingly pivotal role in global payments. Businesses can now use stablecoins to execute international transactions, bypassing conventional banking systems, thereby reducing costs and settlement times.

Trump’s presidency has significantly accelerated these trends.

His administration’s commitment to digital assets has further legitimised the sector, encouraging other nations to consider similar strategies. Perhaps even more importantly, U.S. banks have recently been granted the ability to provide custody, staking, and mining services for digital assets—an under-the-radar development with far-reaching implications.

CRYPTO IN BUSINESS – PRACTICAL APPLICATIONS

Despite the common perception of cryptocurrencies as speculative instruments, their practical applications are expanding rapidly. In Serbia, businesses are already exploring several avenues: Supplier Payments – Companies can enter barter agreements cordmagazine.com

where digital assets replace traditional currency.

Investment Hedge – More businesses are allocating funds into Bitcoin to hedge against inflation and currency devaluation.

Tokenisation of Assets – Real estate, artwork, and other phys-

ture, increasingly clear regulatory frameworks, and growing institutional interest all indicate that cryptocurrencies will soon be fully integrated into the global financial system.

Bitcoin is often referred to as ‘digital gold’—a universally rec-

THE RAPID EVOLUTION OF BLOCKCHAIN INFRASTRUCTURE, INCREASINGLY CLEAR REGULATORY FRAMEWORKS, AND GROWING INSTITUTIONAL INTEREST ALL INDICATE THAT CRYPTOCURRENCIES WILL SOON BE FULLY INTEGRATED INTO THE GLOBAL FINANCIAL SYSTEM ical assets can be tokenised and traded via blockchain technology.

THE FUTURE – WHAT LIES AHEAD?

If we consider how the internet has become an inseparable part of our lives, we must ask ourselves: where will cryptocurrencies be in the next 10 or 20 years? Today, we stand at the beginning of mainstream adoption. The rapid evolution of blockchain infrastruc-

ognised store of value. However, Bitcoin has a crucial advantage over gold: while gold is measured in tons and requires physical handling, Bitcoin can be transferred globally with a single click.

The world is changing, and digital assets are an integral part of this transformation. Those who grasp their potential today will be the pioneers of the digital economy tomorrow.

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OPINION

WILL AI MEAN HIGHER TAXES? The rapid advance of artificial intelligence is poised to reshape global labor markets, with estimates suggesting that it will eliminate hundreds of millions of jobs worldwide. To mitigate the effects of job displacement and prevent social unrest, governments may be forced to increase taxes on wealth and corporate profits

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here is little doubt that the United States remains at the forefront of technological innovation. The continued dominance of the “Magnificent Seven” – Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla – has solidified America’s leadership in the tech sector, with other economies struggling to keep pace.

The European Union is a prime example. In 2023, the EU’s total gross domestic expenditure on research and development – by governments, businesses, higher-education institutions, and

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NGOs – amounted to €381 billion ($398 billion). To put this figure into perspective, it is roughly equivalent to the $350 billion that the seven leading US tech companies were expected to reinvest in 2024 alone.

Meanwhile, the tech boom continues to reshape global financial markets, with the sector now accounting for nearly 30% of the S&P 500 – more than the next two largest sectors combined. This extraordinary concentration, driven by cordmagazine.com

GOLDMAN SACHS ESTIMATING THAT AI COULD ELIMINATE 300 MILLION FULL-TIME JOBS WORLDWIDE. WEF SURVEY OFFERS A MORE OPTIMISTIC OUTLOOK, PROJECTING THAT AI WILL ELIMINATE 83 MILLION JOBS WHILE CREATING 69 MILLION NEW ONES – RESULTING IN A NET LOSS OF 14 MILLION JOBS, OR JUST 2% OF CURRENT EMPLOYMENT IN AI-AFFECTED INDUSTRIES the Magnificent Seven’s soaring valuations, has both fueled investor enthusiasm and raised concerns about potential risks.

Against this backdrop, the rapid development of artificial intelligence has

sparked a heated debate over how to manage its potentially disruptive impact. On one hand, techno-optimists believe that AI will be net-positive for job creation.

Like previous technological revolutions, they argue, automation may displace some

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workers but also give rise to new industries and professions, more than compensating for job losses while driving productivity and economic growth.

They may have a point. At the turn of the twentieth century, agriculture accounted for 40% of the US workforce; today, the share is less than 2%. As farming jobs disappeared, displaced workers moved to new industries that became the backbone of the modern economy.

The most striking example is the services sector, which employs nearly 80% of the US workforce, while manufacturing and construction – once dominant – account for just 20%.

On the other side of the debate, techno-skeptics – particularly within pol-

TO MITIGATE THE EFFECTS OF JOB DISPLACEMENT, PREVENT SOCIAL UNREST, AND SUSTAIN ESSENTIAL PUBLIC SERVICES LIKE NATIONAL SECURITY, EDUCATION, HEALTH CARE, AND INFRASTRUCTURE, POLICYMAKERS MUST FIND NEW REVENUE SOURCES icymaking circles – are increasingly concerned about the AI revolution’s employment implications. They fear that AI could usher in an era of jobless growth, whereby human workers will be permanently displaced, and the economic gains will flow primarily to capital owners.

The scale of potential disruption is staggering, with Goldman Sachs estimating that AI could eliminate 300 million full-time jobs worldwide. A World Economic Forum survey offers a more optimistic outlook, projecting that AI will eliminate 83 million jobs while creating 69 million new ones – resulting in a net loss of 14 million jobs, or just 2% of current employment in AI-affected industries.

But even if the direst predictions fail to materialize, AI is poised to transform labor markets around the world. Mass technological unemployment could ex-

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acerbate inequality, especially between capital owners and the millions of workers who might suddenly find themselves out of work.

The looming labor-market disruption raises a critical question: Do today’s AI-driven profits portend higher taxes in the future? To mitigate the effects of job displacement, prevent social unrest, and sustain essential public services like national security, education, health care, and infrastructure, policymakers must find new revenue sources. Faced with budget shortfalls, some governments may be forced to raise taxes on the most profitable sectors.

For businesses and investors, this could mean significantly higher taxes, as policymakers seek to redistribute the gains of automation. Two pressing concerns stand out: first, with tech-driven job losses shrinking the tax base, corporations could be the primary target of

tax increases. Second, lower employment and declining disposable incomes could dampen consumer demand, impeding economic growth.

As a result, business leaders find themselves in a double bind. To avoid tax increases, they must sustain the tax base by maintaining a high level of employment. But to increase efficiency and boost profit margins, they need to embrace automation – at the risk of higher corporate taxes and weaker consumer demand.

In the short term, businesses may be tempted by the prospect of automation-driven efficiency gains and higher margins. But over time, those gains will likely be eroded by rising corporate and wealth taxes, as governments seek new revenue streams to fund programs like universal basic income to protect living standards and maintain economic and social stability.

If left unchecked, AI-driven unemployment and extreme inequality could unravel the social fabric that allows markets to function. To contain these risks, policymakers may have little choice but to raise taxes, ensuring that the benefits of automation do not come at the cost of long-term social cohesion.

By Dambisa Moyo, an international economist

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