Artificial intelligence could generate at least €15 billion in automation potential for the Hungarian economy by 2030, equivalent to around 6–7 per cent of the country’s GDP, according to estimates by the McKinsey Global Institute.
In a summary published on Tuesday, the consultancy said the overall economic impact of AI could be even greater if rising productivity also strengthens Hungary’s regional competitiveness.
The forthcoming study notes that employment in Hungary has risen to 81 per cent over the past decade and a half, while wages have increased by more than 50 per cent since 2008. However, the current growth model has largely exhausted its potential.
According to the report, future economic growth will no longer be driven primarily by expanding the workforce, but by improving productivity. As a result, Hungary’s economy will increasingly need to rely on innovation and higher efficiency.
The study argues that one of Hungary’s main competitiveness challenges is relatively low value creation. Productivity levels remain significantly below both the European Union and Visegrád Group averages.
The report attributes this gap to several factors, including low domestic added value, the development divide between large corporations and small and medium-sized enterprises, and relatively weak innovation capacity.
McKinsey partner András Havas said artificial intelligence could help address these structural weaknesses by making businesses more efficient and productive.
Meanwhile, Márta Matécsa stated that the study identifies strategic steps that could support AI-driven economic development in Hungary.
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