CCCH Business Breakfast: artificial intelligence in practice

The Canadian Hungarian Chamber of Commerce organized an exclusive business breakfast entitled “Impact of AI on the Future” at BuildEXT’s offices, focusing on the business and legal aspects of artificial intelligence. At the English-language event, renowned industry players, legal experts and investors shared their experiences on AI innovations, challenges in the regulatory environment and the role of cyber defence.

AI kicked down the door

The event was opened by Nicholas Sarvari, President of CCCH and Managing Partner of CNS Risk. In his inspiring speech, he stressed that AI is transforming industries at such a rapid pace that businesses need to innovate and adapt immediately.

– said Sarvari.

In his speech, he highlighted the importance of cyber security and warned the audience that AI-based attacks are becoming increasingly sophisticated, so companies need to build proactive defence strategies.

Legitimate concerns

Tímea Bana, partner at Kinstellar Hungary, gave a presentation on the legal issues associated with the rapid development of AI. She highlighted that existing regulations, such as the European Union’s GDPR, often hinder the smooth progress of AI developments.

“Regulation is developing more slowly than the technology itself. Legislators need to create a dynamic framework that allows innovation while ensuring users’ privacy. ” – said Bana.

Beyond the panels

The business breakfast continued with a panel discussion where three well-known experts discussed the practical applications of AI, with a focus on cybersecurity and investment strategies.

During the discussion, László Szente, Technical Director of TelcoTrend, highlighted that AI-based attacks are becoming more sophisticated and thus more dangerous. “Deepfake technologies and automated cyber attacks are dynamically evolving and pose increasingly serious threats. Companies that do not improve their defenses are putting themselves at serious risk,” he said.

Angel investor Péter “Petya” Balogh discussed the business opportunities generated by artificial intelligence.

He highlighted that the efficiency gains of AI can improve productivity in knowledge-based industries by up to 60%.

Ethical and legal dilemmas of AI

The ethical dimension of AI was raised several times during the event.

“It’s not enough to understand AI from a technological perspective – you need proper legal and ethical guidelines to use it responsibly.” – said Tímea Bana, stressing the importance of developing AI guidelines.

“Artificial intelligence is a tool with huge potential, but only those companies with the right strategy, legal preparedness and a strong cybersecurity background will be able to exploit it,” concluded Nicholas Sarvari. The Canadian Hungarian Chamber of Commerce has pledged to continue to provide similar events to help companies navigate the new business and legal environment created by AI.

The business breakfast was sponsored by BuildEXT, as a member of the Canadian Hungarian Chamber of Commerce.

(photo: BuildEXT)

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