Intrum: EU AI Act could put Hungarian companies to the test
The European Union’s new Artificial Intelligence (AI) regulation, the “EU AI Act”, which will enter into force in August 2025, could pose significant challenges for Hungarian companies, according to a European payment report by Intrum, a claims management service provider.
The EU regulation aims to regulate the development and use of artificial intelligence systems along defined risk levels, including unacceptable, high, transparent and minimal risk.
According to the report, the vast majority of domestic companies are not yet prepared to meet the new requirements: nearly three-quarters of Hungarian companies are not aware of exactly what the new EU regulation expects of them. Even more worrying is that 54 percent of them believe that they will not be able to fully comply with the regulations by the time the regulation comes into force.
The business application of the technology is spreading at an ever-increasing pace: in 2025, 63 percent of managers will already use artificial intelligence to handle payments. This rate is a significant increase compared to 47 percent in 2024. In addition, 56 percent of executives believe that technological developments will significantly improve the efficiency of managing late payments.
At the same time, the regulatory environment can curb innovation: according to 38 percent of executives, new regulations on AI may limit the possibilities for experimentation and make it difficult to introduce new technologies.
The lack of appropriate expertise is ranked first among the challenges, with 52 percent of executives admitting that they have difficulty involving professionals who can create real value with the help of AI tools.
Tibor Kaczur, Intrum’s Brand and Marketing Communications Director, explains in the statement: it is essential for Hungarian companies to prepare for the requirements of the law on artificial intelligence in a timely manner and to be aware of how to safely apply the new technology, because this fundamentally determines their future competitiveness. Companies that now invest time and resources in building knowledge, establishing compliance processes, and rethinking their AI strategies can gain a significant advantage in their respective markets, he added.
Related news
Generation Z is teaching their older colleagues how to use artificial intelligence
New global research from the International Workplace Group (IWG), the…
Read more >EDEKA Paschmann First German Retailer to Use Diebold Nixdorf’s AI-Powered Solution to Combat Shrink at Self-Checkout
EDEKA Paschmann in Düsseldorf is the first supermarket in Germany…
Read more >Where tradition and future meet – the 82nd OMÉK is waiting for you
From 18 to 21 September Hungexpo will host Hungary’s oldest…
Read more >Related news
OKSZ: The population of small settlements is most affected by Lázár’s decree
With yet another measure, the government is burdening consumers by…
Read more >How to avoid microplastics in the kitchen?
In its latest compilation, Körkörös.hu provides several tips on how…
Read more >German retail sales fall more than expected in July
Retail sales in Germany fell in July month-on-month and growth…
Read more >