Trade Wars Could Hinder Tech Advance, Minister Warns
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National Economy Minister Márton Nagy acknowledged the increasingly important role of artificial intelligence and warned that trade wars could hinder the advancement of emerging technology, addressing a conference on industrial coalitions in innovation in Budapest on Tuesday, according to a report by state news wire MTI.
Nagy said AI had become a "central element" of the conflict between the United States and China, while the European Union had gradually fallen behind both countries in terms of AI and digitalization.
AI could be an engine of economic growth in the coming years, he added.
Hungary takes an "open and pragmatic" approach to global challenges while putting its national interests first, he said.
Hungary's well-developed digital infrastructure gives the country a good foundation from which to make the digital transition, but it still faces the challenges of technology infrastructure, digital skills, and digitalization among businesses, he added.
The National Economy Ministry is working on establishing the right regulatory environment, and the government is cooperating with the biggest telecommunications companies to advance digitalization, he said. The government is also supporting the expansion of industrial technologies in the food, automotive, healthcare, and base materials sectors, he added.
The government aims to double the contribution of Hungary's ICT sector to GDP by 2030 and bring the Industry 4.0 penetration rate to half of all businesses, he said.
Preparations for the implementation of the European Union's AI Act will start when Hungary takes the rotating presidency of the Council of the EU in the second half of the year, he noted.
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