OTP Bank, Hungary government team up for ‘supercomputer’ project

Reading Time: < 1 minute

Hungary’s Ministry of Innovation and Technology and Hungary’s largest commercial bank OTP will collaborate to create Europe’s largest supercomputer, minister Laszlo Palkovics announced. The partnership will develop an AI-based Hungarian-language model for phone banking, he said.

“We are not afraid of competing with technology companies,” OTP’s deputy CEO Peter Csanyi commented. Banks already view themselves as tech companies, Csanyi underlined, recalling that OTP has just adopted a digital strategy.

AI is one of the most competitive areas of technological development, closely related to language. However, large tech companies refrain from working in lesser spoken languages such as Hungarian, concentrating mainly on English. As Hungary’s largest commercial bank with a significant presence in the CEE region, OTP will create language modules for AI application in the languages spoken in the countries where it is active.

Source: Portfolio.hu

CET Editor

Recent Posts

CEE mulls ramifications of Trump’s victory on trade, defence, environment

As Donald Trump officially declared his victory in the US election, he received congratulations from…

4 days ago

‘Budapest Declaration’ signed as Orban hosts EU summit

European leaders committed to developing a defence industry base and enhancing EU competitiveness at an…

4 days ago

EU, South Korea expand security, defence links

The EU and the Republic of Korea formalised a comprehensive Security and Defence Partnership in…

4 days ago

PKN Orlen CEE’s top firm on Coface 500 list

Poland is the dominant country in the Central and Eastern Europe (CEE) business landscape, with…

4 days ago

To the victor go the spoils – the big winners and losers of Trump’s second presidency – CET op-ed

Hungarian Prime Minister Viktor Orban, no stranger to political brinkmanship, went all in on Donald…

1 week ago

Moldova pivots to EU in presidential vote

Moldovan President Maia Sandu defeated her pro-Russian rival Alexandr Stoianoglo by around 55% to 45% in the presidential second-round…

2 weeks ago