Europe’s first ever interactive Artificial Intelligence exhibition was held at the Budapest Technical University, on Thursday. Artificial Intelligence is used today in several applications or devices designed to make day-to-day life simpler, a deputy state secretary of the Innovation and Technology Ministry told a press conference on the event’s sidelines.
A strong position established by Hungary in AI will further boost the country’s economic growth, Balázs Károly Solymár said. In the past 20 years, annual venture capital investments in AI-related fields have seen a six fold increase, while there have been a 1,400 percent increase in the number of AI-specialised start-ups during the period, he said.
The volume produced by the global AI-market is expected to increase by an annual 50 percent on average by 2025, said Solymár, who is in charge of info-communications.
The exhibition was organised by Hungary‘s AI Coalition, an umbrella organisation of around 170 universities and academic research centers, technology companies and state actors established in October last year. Charaf Hassam, a Coalition’s board-member, said the exhibition featured 20 participants. The Coalition’s objective is to present various aspects of AI to the general public in an easy-to-understand way.