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AI to Boost Hungary's GDP 15% by 2030, Minister Says

Innovation

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Artificial Intelligence could boost Hungary's GDP 15% by 2030, Economic Development Minister Márton Nagy said at a conference in Budapest on Monday, news agency MTI reports.

Nagy told the AI Summit 2023 that AI could increase productivity by 26% and pointed to the successful application of AI for the warehouse activities of hauler Waberer's, the soft drink development of Hell Energy, and the supercomputer of OTP Bank.

The European Union's rules on AI are expected to be approved in April 2024, when Hungary holds the rotating presidency of the Council of the EU, he said.

The EU rules will serve as the guideline for Hungarian legislation on AI, he added.

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