AI Summit Budapest 2024: innovations in artificial intelligence draw record crowds

The AI Summit Budapest 2024 took place on 9th and 10th September at the Hungarian House of Music and the Museum of Ethnography, along with their immediate surroundings. As Central Europe’s largest AI event, it brought together hundreds of experts, business leaders, and researchers to share their insights on the future of artificial intelligence. Key topics included the role of AI in healthcare, the transformation of the creative industries, and opportunities within the corporate sector. Special attention was given to the EU AI Act and its potential impact on various industries.

AI Summit Budapest: keynote speeches

Tibor Navracsics, Minister of Public Administration and Regional Development, opened the AI Summit Budapest 2024 with a presentation highlighting existing AI practices in Hungary. He pointed to examples within the tax authorities (NAV), the healthcare sector, and development policy decision-making, where AI already plays a significant role. The Hungarian Tourism Agency (MTÜ) also employs AI for data-driven developments in tourism. Navracsics further noted that the South Transdanubian model programme is being developed to use AI for decision-making based on trends identified and diagnoses made through the programme’s design.

The second day began with a speech by Kristóf Szalay-Bobrovniczky, Minister of Defence, who remarked that AI is an essential tool for the armed forces, particularly in reconnaissance. He emphasised that AI is also crucial for data processing and geographical terrain assessment. Szalay-Bobrovniczky stressed that AI can suggest the most effective course of action in complex combat situations and that digital tools are increasingly being integrated into logistics.

Source: AI Summit Budapest

Speakers, presentations

Tickets for the conference, organised by publisher Indamedia, sold out in the days before the event. Nearly 3,000 people attended over the two days.

Five stages and 213 speakers at the AI Campus helped you learn about AI trends and the latest developments.

The summit featured prominent figures such as Dr György Tilesch, an internationally recognised expert on AI strategy and ethics, and Péter Szabó, Managing Director of Microsoft Hungary. The conference focused on the practical applications of AI as well as ethical considerations, including its impact on the labour market and public services.

Several speakers from the creative industries noted that a deeper understanding of AI and its integration into workflows can help companies become more efficient by automating monotonous tasks.

Some artists have excelled in AI-driven creations, and a panel of marketers unanimously agreed that companies following current trends are embracing AI, while those that do not risk falling behind.

Péter W. Szabó, founding owner of Tenrg ai. Photo: Daily News Hungary

AI-driven imaging was another major topic, with this industry experiencing significant development in recent years. Péter W. Szabó, founding owner of Tenrg ai, a leading Hungarian imaging company, discussed the present and future of image generation. He highlighted that, in a short period, the number of users has grown from a few thousand to 300,000, indicating a strong interest in such technologies.

Several presentations also addressed fears surrounding AI. Here too, speakers generally agreed that while the full impact of AI remains uncertain, it is not something to fear but rather something to learn about and harness. As Balázs Sólyom, Chief Data Officer of Trendency Online Ltd., aptly put it:

“It’s not the AI that takes your job; it’s the human using AI that takes the job of the non-AI user.”

AI and the media

There were also English-speaking sessions at the summit. For example, during a discussion on the future of media, Jim Egan, Director General of Financial Times Strategies, stated that content production is likely to increase manifold with the assistance of AI. However, he noted that news sites producing genuinely creative and valuable content will be the ones to attract readers. He added:

“One of the key questions for the future of the media world is how to stand out from the junk content.”

The relationship between marketing, media, and AI was another frequent topic. During a roundtable discussion on Tuesday afternoon, the heads of Index and 24.hu emphasised that although they are experimenting with AI in journalism, it is not yet being used in practice.

Workshops

The summit also hosted workshops on the basic principles of prompt editing, AI copywriting, and avatar video creation.

Dávid Tálas, Managing Director, Promptmaster. AI Summit Budapest 2024. Photo: Daily News Hungary

Automotive industry: China in the lead

The relationship between AI and the automotive industry was another important topic covered on Monday afternoon. A roundtable discussion addressed the rise of Chinese cars in a changing market, touching on the interplay between tradition and innovation. Another discussion explored the differences between the EU and Chinese car industries, with leading Hungarian car dealers sharing their perspectives on emerging trends.

AI Summit Budapest 2024. Photo: Daily News Hungary

Conclusion

Overall, the AI Summit Budapest 2024 provided valuable insights into how artificial intelligence is already shaping our daily lives and how it can help us prepare for future challenges. The high level of interest suggests the event has already outgrown its current venue. One thing is certain: in a year’s time, we may have a better understanding of AI’s applications in our rapidly changing world, but undoubtedly, many more questions will arise.

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