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Hungarian companies are not strong in innovation, but they are taking the digital transition seriously, K&H announced on Tuesday, based on its own innovation index.
K&H has been measuring the innovation activity of the domestic medium and large corporate sector. Among the data from the second half of last year, the topic of digital transformation clearly stands out, with the survey revealing that half of the companies continue to develop dynamically in this area.
The summary shows that
60 percent of employees in firms use a computer for work. The percentage of internet users is steadily increasing, reaching 74 percent, compared to 49 percent in the first half of 2021.
The proportion of people using a portable computing device for work is rising year on year, reaching 56 percent in the second half of 2023, up from 39 percent in the first half of 2021.
It is becoming increasingly common for companies to analyze the large amounts of digital data they accumulate in detail (Big Data), with 16 percent already doing so, according to the survey.
The percentage of companies analyzing social media data, such as comments, is decreasing. Two years ago, a tenth of firms were monitoring social media feeds, but in the latest survey only one percent reported doing so.
Artificial intelligence (AI) continues to take off, with 11 percent of firms using the new technology. Typically, few firms – between two and five percent – use AI for forecasting, optimization, visual data processing, face and image recognition, or self-driving machines. Around five percent of companies use it for speech recognition, machine translation, or as a chatbot. This is a significant increase from the low six months ago, but only a return to the level of two years ago, K&H noted.
After a three-half-year low of three to four percent, by the second half of 2023, 10 percent of companies reported using AI for process automation.
K&H has published the innovation index since 2021. Last year’s data collection took place between September 18 and October 10, 2023, and 360 innovation managers from medium and large companies with annual sales of more than HUF 300 million (EUR 787,733) were interviewed by phone.
Via MTI, Featured image via Pixabay
