SME development: the corporate use of artificial intelligence must be encouraged

By: Trademagazin Date: 2024. 09. 18. 11:19

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The government’s priority goal is to improve the competitiveness of domestic SMEs, and for this the corporate use of artificial intelligence (AI) must be encouraged – said the Minister of National Economy on Tuesday in Budapest, at the Portfolio Finance 2024 conference.

Márton Nagy emphasized in his presentation: the explosive development of AI is fundamentally transforming everyday life. AI will play a key role in increasing labor productivity: in the future, AI-induced GDP growth of 15 percent, productivity growth of 26 percent, and 1 million jobs with higher added value may result in the Hungarian economy.

In his presentation entitled The future-shaping role of artificial intelligence in the Hungarian economy, the head of the ministry also touched on the fact that

according to IMF research, AI can transform 40 percent of jobs worldwide, and according to another research, it will increase global GDP by 15.7 trillion dollars or 26 percent by 2030. Wide spread of AI can increase labor productivity by 1.3 percentage points in 10 years

– explained.