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AI Can Be Breakout Point for Hungarian Economy, Says Gov't Official

• 1 Dec 2023 7:41 AM
• Hungary Matters

Artificial intelligence can be a breakout point for the Hungarian economy, and the government aims to make Hungary the best-prepared country for digitalisation in the region, the state secretary for industry policy and technology told a conference.

AI is estimated to boost GDP globally by 1 trillion dollars, and businesses that invest in it are seeing significant jumps in revenue, Gergely Fábián told the MBH business conference in Budapest.

Fábián said AI improved operational efficiency, reduced risks and transformed production chains from trade to agriculture and industry.

AI, he added, was also changing the labour market as it replaces hundreds of millions of jobs with higher value-added ones.

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Launched in January 2014, this newsletter published on week days covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI.

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