Artificial intelligence could generate up to 15 billion euros in additional productivity in Hungary by 2030. According to McKinsey’s analysis, this corresponds to around 6–7 per cent of Hungary’s GDP and could help the economy close the gap with the more developed countries of Western Europe. At the same time, experts warn that delays in implementing AI could widen the existing competitiveness gap.
These findings were presented during a discussion involving representatives of Hungary’s largest companies. Comments from managers indicate that businesses are increasingly moving from experimentation to practical applications of artificial intelligence.
One of the most advanced examples is Magyar Telekom. As Deputy CEO Peter Nagy reported, AI agents already handle around 20 per cent of customer calls. The company has also reduced the time taken to launch new services from around 90 to 30 days. At the same time, some of the staff responsible for monitoring the network have been reassigned to more complex tasks.
However, not everyone shares the enthusiasm for the short-term effects of AI. Gábor Orbán, CEO of the pharmaceutical company Richter, pointed out that the healthcare sector has already experienced similar waves of technological optimism, including around genomics and digitalisation. In his view, more time is needed to assess whether current expectations regarding productivity gains will actually materialise.
Representatives of the financial sector, for their part, emphasise that AI does not necessarily mean lower operating costs. András Becsei of OTP Bank noted that savings on labour costs may be partially offset by higher operating expenses and investments in technological infrastructure.
Competitiveness remains a key issue. Gergely Bacsó of Allianz Hungary believes that artificial intelligence is becoming part of the global economic race. Companies from larger markets, particularly the United States, may achieve greater economies of scale from AI implementations. This means that for countries such as Hungary, the rapid adoption of new technologies may not only be an opportunity for growth, but also a prerequisite for maintaining competitiveness.
