AI and digital shifts transform Western Balkans tech and finance sectors

The technology and financial landscapes in Southeast Europe are undergoing significant shifts driven by artificial intelligence and evolving consumer expectations. At the Visa Connect SEE forum in Belgrade, industry leaders highlighted that cashless payments in the region are growing by 21 percent annually, with approximately 80 percent of citizens actively using banking services.

Visa executives noted that consumers no longer distinguish between online and offline or domestic and cross-border transactions, instead demanding seamless, intuitive, and secure experiences. A notable emerging trend is the rise of AI agents that assist users throughout the entire purchasing process. In Serbia, research indicates that 78 percent of citizens already use artificial intelligence to aid in purchasing decisions.

Simultaneously, a regional study by the Regional Cooperation Council and ICT Hub reveals a transition within the Western Balkans' ICT sector. While ICT exports reached over 6 billion euros in 2024, the traditional model of providing low-cost coding services is reaching its limits. Employment growth has slowed from 15 percent to 3 percent as global clients shift demand from basic programming to comprehensive business solutions.

Employers in the region report that the primary skill gap is no longer technical coding ability, but rather business and non-technical skills. Specifically, 67 percent of employers identified a lack of problem-solving, teamwork, and project management expertise. Furthermore, 77 percent of regional companies are already utilizing AI tools and copilots to assist with coding tasks.