Digital strategist: the data-based economic model can bring Hungary a real breakthrough

By: Trademagazin Date: 2024. 06. 12. 11:15

We have been talking about the term “paperless” office for almost 5 decades, and especially since the pandemic, companies have been digitizing at a crazy pace so that they can entrust the latest achievements of artificial intelligence to analyze their business information and turn it into profit.

In reality, however, an average corporate worker still uses roughly 10,000 sheets of paper in just one year, and we can only say clichés about data-based operating models that they are fast or cost-effective. Data is not the new oil, but the new precious stone – believes digital strategist Ágoston Hortobágyi, who believes that it is high time to learn how to extract the real value inherent in it. The monetary return of data wealth can indeed be made visible, and the economic model that defines it is taking shape in Hungary: if the domestic corporate and SME sector is able to switch to the new business approach as soon as possible, it could be a revolutionary jumping-off point for the entire national economy.

The digitization of company information and the elimination of paper have been among the strategic goals of companies for a long time, so that the latest star technology, artificial intelligence, gives an even greater boost to the developments. Since a universal tool that can transform previously seemingly opaque data into valuable business information with unprecedented efficiency has come to the fore and has become widely available, everyone strives to “feed” the machines with as much digital information as possible. The size of the global data analysis market is thus expected to expand from this year’s value of around 70 billion dollars to nearly 350 billion dollars by the end of the decade, but it is doubtful whether the assets burned in the sector will really bring results.

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