Should Hungarian Companies be Doing More to Adapt to the Rise of Artificial Intelligence?

The artificial intelligence boom of 2023 has pushed AI technology to the fore, with businesses scrambling to incorporate this know-how ahead of the competition. Some of the world’s leading brands, such as Amazon, Spotify, and Netflix, embraced AI early, allowing them to reap the early adapter rewards.

Businesses across the EU have also been investigating ways to jump on the AI bandwagon, although reports suggest that Hungary is lagging behind. Ultimately, Hungarian companies need to learn fast from dynamic markets like Canada to keep pace in the AI race.

Report Suggests that Hungary is Behind Rest of EU

With businesses across the EU embracing AI over the last few years, Hungary failed to follow the trend. One report in 2021 found that only three percent of companies in the country used AI, which was under half of the EU average. This positioned Hungary 25^th out of the 27 EU member states, highlighting significant room for improvement.

Hungary has implemented various strategies to catch up with other EU member states. This has led to SZTAKI (the Institute for Computer Science and Control) getting involved with the country’s AI initiative. The organization brings together 250 members and over one thousand experts, aiming to get AI to 14 percent of the national GDP by 2030.

Another strategy that Hungary hopes will boost development in AI is attracting international AI research centers. The government is trying to incentivize these to move to the country, meaning that there will be greater opportunities in the future for collaboration with businesses.

Hungary Could Learn From Countries Like Canada

Hungary could look for inspiration from other leading countries in the AI race, with Canada being a shining example of how to get ahead. Over the last couple of decades, the North American nation has become a leader in technological development thanks to various government strategies.

For example, Canada has positioned itself at the heart of booming industries such as gaming and online casinos thanks to incentives in place for local businesses. When studios set up shop there, they can take advantage of tax breaks and other perks.

Canada has led the way with innovations in these industries, with many of the top free spins casino sites first emerging there. There are also news sites that help players keep track of the changing landscape and stay up to date with new technological trends, such as eWallet and AI integration at online casinos.

Because Canada has so many businesses competing in a highly competitive market, AI adoption in the country has been rapid and widespread. Hungary should replicate some of the methods the Canadian government has used to prop itself to this dominant position in the tech world.

AI is sweeping the world – yet Hungarian businesses are flagging. Can they learn quickly and catch up? Or will they simply get left behind in a time of exponential progression?