With the arrival of the automation era, governments and businesses face a new, albeit challenging, opportunity to accelerate economic growth. At a global level, automation has the potential to create value at a time when productivity is weakening and the working-age population is shrinking. In Hungary, automation offers a remedy for the rising labor and productivity challenges. At the same time, automation’s ability to disrupt labor forces, and the complexities involved in implementing automated technologies, could hamper its adoption.
This report attempts to demonstrate that the gains Hungary can derive from the adoption of automation technologies will outweigh potential negative effects. Productivity improvements and a shift toward higher value-added jobs will create new economic value that raises Hungary’s economy to a new level of sustained and robust long-term economic growth.
History shows that Hungary’s economic, political, and social fabric is resilient in the face of economic change. It is this ability to adapt and grow from change that will enable Hungary’s companies, labor, and policy makers to take the steps necessary to capture the opportunities of the automation era.