Artificial intelligence has the potential to serve as a breakthrough point for the Hungarian economy, according to the state secretary for industry policy and technology. Speaking at a business conference in Budapest, Gergely Fábián emphasized that the government aims to position Hungary as the most well-prepared country in the region for digitalization.
With AI projected to boost global GDP by $1 trillion, businesses investing in this technology have been experiencing significant revenue growth. Fábián highlighted how AI enhances operational efficiency, reduces risks, and transforms production chains across various sectors, from trade to agriculture and industry. Furthermore, he emphasized that AI is reshaping the labor market by replacing numerous jobs with higher value-added ones.
Fábián expressed concern regarding Europe’s lag in the global digital transition, which is predominantly dominated by China and the US. He stressed that Hungary should not merely strive for catching up with the European Union average, as the country’s digital infrastructure, built since 2010, ranks among the best on the continent.
While acknowledging the need to further develop domestic businesses’ level of preparedness, Fábián outlined the government’s plans to integrate AI applications into the healthcare system, energy production, and agriculture by 2030. The goal is to achieve a minimum 15% boost in GDP through AI adoption. Additionally, Hungary aims to become a regional leader in AI adoption and the leading developer of autonomous vehicles by the end of the decade.
The potential for AI to revolutionize the Hungarian economy presents an opportunity to propel the country forward and remain competitive in the global arena. By embracing this technology, Hungary can position itself at the forefront of digital innovation and capitalize on the benefits it brings. The government’s commitment to advancing AI adoption across various sectors demonstrates a clear vision for a digitally transformed future. Through strategic planning and continued investment, Hungary has the potential to unlock the tremendous economic opportunities offered by artificial intelligence.
