Hungary Connected Devices and AI
Hungary’s focus on digitalization is expected to boost spending on information technology, especially in manufacturing and government sectors.
Development and investment in Hungary’s technology industry is expected by the adoption of new technologies. From global companies operating in Hungary (such as Cisco, Deutsche Telekom, Nokia etc.) to local start-ups (like AImotive and Commsignia), technology companies are focused on boosting smart city capabilities.
Companies plan to carry out these endeavors using IoT technology, expanding Narrow-Band–Internet of Things (NB-IoT), developing solutions for autonomous driving, researching artificial intelligence (AI) and cognitive science. By 2030, AI alone is expected to contribute €20.9bn (US$25.2B) to the country’s economy.
In November 2021, Hungary’s OTP Bank, one of the largest financial services firms in Eastern and Central Europe, selected SambaNova Systems (US) to build “Europe’s fastest AI supercomputer.” The system will be provided as a national AI resource for government agencies, universities, research hospitals and other organizations in cooperation with Hungary’s Ministry for Innovation and Technology. AI-driven capabilities will also be shared with neighboring countries.
The move comes as the European market trails behind the U.S. and China in building faster, more powerful computers, a race many global leaders see as an issue of national security.
For additional information, please contact Eva.Bosze@trade.gov