Published: November 30 2023
Artificial intelligence (AI) holds great potential for economic growth in Hungary. The government aims to position Hungary as a leading country in digitalization in the region. This article explores the government's plans and goals regarding AI and its impact on the Hungarian economy.
The Power of AI in Boosting GDP
AI has the potential to boost global GDP by an estimated 1 trillion dollars. Businesses that invest in AI are experiencing significant revenue growth. AI improves operational efficiency, reduces risks, and transforms production chains across various industries, from trade to agriculture and manufacturing. Moreover, AI is reshaping the labor market by replacing low-value jobs with higher-value ones.
Hungary's Digital Transformation
Europe lags behind in the global digital transition dominated by China and the United States. However, Hungary aims to go beyond simply catching up with the European Union average. The country has built a robust digital infrastructure since 2010, positioning it among the best in the continent. The government's goal is to integrate AI applications into key sectors such as healthcare, energy production, and agriculture by 2030. Additionally, Hungary aims to achieve a minimum 15 percent increase in GDP through AI implementation.
Becoming a Regional Leader
Hungary aspires to become a regional leader in AI utilization. Additionally, the government aims for Hungary to be at the forefront of autonomous vehicle development by the end of the decade. These ambitious goals demonstrate Hungary's commitment to harnessing the potential of AI for national economic growth.
AI presents a significant opportunity for Hungary's economy. The government's efforts to position Hungary as a leader in digitalization and AI implementation are aligned with the global trend towards AI-driven growth. By leveraging AI technologies, Hungary can achieve economic advancements and remain competitive in the digital age.
Questions & Answers
What is the goal of the Hungarian government in regards to artificial intelligence (AI)? The goal of the Hungarian government is to make Hungary the best-prepared country for digitalisation in the region and to become a regional leader in the use of AI.
How can AI benefit the Hungarian economy? AI is estimated to boost GDP globally by 1 trillion dollars, and businesses that invest in it are seeing significant jumps in revenue. AI improves operational efficiency, reduces risks, and transforms production chains in various sectors such as trade, agriculture, and industry.
What is the state of digital transition in Europe according to the state secretary for industry policy and technology? According to the state secretary for industry policy and technology, Europe has fallen behind in the global digital transition, which is dominated by China and the US. He believes that Hungary should not be satisfied with just catching up with the European Union average.
What are some areas where AI applications could be implemented in Hungary? The Hungarian government aims to have AI applications built into the health-care system, energy production, and agriculture by 2030.
What is the government's target for increasing GDP through AI? The government aims to boost GDP by at least 15 percent through the use of AI.
What does the Hungarian government envision for autonomous vehicles? The Hungarian government aims for Hungary to become the top developer of autonomous vehicles by the end of the decade.