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How can artificial intelligence be used in the economy? – That’s what they’re looking for on Corvinus

How can artificial intelligence be used in the economy?  – That’s what they’re looking for on Corvinus

Corvinus University in Budapest, which was the first to undergo a paradigm change, opened up another great opportunity by creating a collective learning center dealing with data research. We asked Brigadier General Oszkár Zoltán Szántó and network researcher César A. Hidalgo about the path leading here and his possible science and future plans.

In January 2023, Corvinus University in Budapest launches its new global research laboratory dealing with data science and economic complexity, the Center for Collaborative Learning. “This new institution is built in the International Research Center of the University’s Corvinus Institute for Advanced Studies (CIAS), which we established in 2018 in preparation for a change in the university model. When we already knew that Corvinus would have the opportunity to operate in a more flexible organizational environment, with a different external and internal management structure And, in accordance with a new funding model, we decided to create a new organizational unit, the purpose of which is to attract foreign researchers from the fields of economics, business sciences and related social sciences to the renewed Corvinus, in the spirit of promoting research excellence. Oszkár Zoltán Szántó, dean of CIAS, told Mandiner, who also touched on the research environment.

Foreign specialists may conduct research at the University in their own topic at intervals of five to ten months, preferably with the participation of Corvinus staff and doctoral students. Szanto added that if, at the end of the search period, the relevant authority decides he wants to stay, he will be given a competitive job offer, so he can stay here at the university for the long term.

Since the paradigm change, more than forty guest scholars have been received from the United States to India and several European countries.

Their number is growing every year, and many of them are already full-time employees of one of the university’s institutes.

They are looking for connections and starting a Bachelor’s degree in Business Data Science in English

The dean also spoke about funding: “An important milestone on the path to achieving international research excellence is that – with the active participation of the staff of the Network Research, Technology and Innovation Center (NETILab) already working in CIAS and the active support of the University’s Applications Department – we have submitted our application to the European Research Area Program (ERA-Chair), which is funded Operation of the Collegiate Learning Center for five years.This support provides a good opportunity for Corvinus to increase its research performance in line with international expectations, and thus become one of the leading universities of economic and social sciences in Europe.” Szanto explained.

The Dean explained that the head of the Collaborative Learning Center is Cesar A. Hidalgo, who was the doctoral supervisor for which Albert Laszlo Barabasi was the supervisor. Hidalgo’s name is known worldwide for its outstanding achievements in network and data science research. His research and publications have a significant impact on his field. In the next five years, he will direct the research group at Corvinus University in Budapest, in addition to performing his other duties. “However, the process does not stop here, because we are also looking for contact with local researchers in this field. Hungary should also open the doors in the field of scientific cooperation.” he added.

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Looking ahead, Szántó said that next September the university will launch a four-year bachelor’s degree in business data science in English. “This is also an important step because the use of artificial intelligence or machine learning or building and analyzing large databases at present is an integral part of this field, which appears in both macroeconomic and financial fields. Until now, we have achieved results in this field, but now With the launch of the center, this activity will continue to expand in the international arena. CIAS Dean confirmed.

Albert-László Barabási, a world-renowned networking researcher, welcomed the launch of the lab as follows: “The Data Science and Economic Complexity Lab led by César Hidalgo continues the legacy of Corvinus’ Budapest thought leadership in the field of networks and complexity by bringing a new perspective to the study of economic systems. This lab will play a critical role in training the next generation of researchers interested in complexity by supporting burgeoning network science programs at Central European University and the Renyi Institute – confirmed the famous physicist.

Cesar A. Hidalgo: We want to put together a team that is at the forefront of applying data science

“Collective Learning Center is a research group focused on the economical use of artificial intelligence and data science methods” The head of the center, Cesar A. Hidalgo. Then he went on to say that artificial intelligence has undergone great development in the past few years. There are a number of interesting tools chatWhich, for example, helps you write texts in a very understandable way. Uses grammar, punctuation, and spelling well. He can write simply and clearly. Many mathematical tools have been used to develop these techniques, which can also be used to understand economic processes.

Therefore, in the center, we are creating an interdisciplinary group of scientists who use the tools of artificial intelligence and data science in the fields of economic sciences.

The researcher explained.

ChatGPT: What happens when AI falls into the wrong hands?


Hidalgo then spoke about the fact that the economic environment is constantly changing, and in order to contribute to its development, “we also need to understand their exact level of accuracy.” “It’s not just about capital and labor, or breaking down some production processes into steps, but we really need to understand the often specific knowledge that is required for certain elements of the process. How that knowledge changes in a given space, how it grows and accumulates.

AI tools have this ability.”

Professor explained.

“These models can type, they can recognize words. They also know whether a word is a noun or a verb. They can decide if there is a relationship between coffee and tea because it is used in millions of centralized systems. Using similar tools, we can examine economic data and make forecasts.” Much more accurate and more accurate, so you can help us understand the economy. In addition, they also provide diagnostic tools that allow for more advanced planning.” is listed.

Photo by Erica Derrickson

We are just beginning to understand artificial intelligence

When asked about the meaning of AI ethics, Cesar A. Hidalgo argues that humans judge the actions of machines and other humans based on different moral philosophies. “We judge machines based on a model philosophy that is more concerned with consequences. AI ethics is therefore a large area of ​​research that studies many aspects. It studies the ethical use or behavior of AI and whether such behavior is ethical. Our investigation aimed to understand how and why people judge machines the way they do it.” he added.

The researcher responded to the statement that Americans and Europeans are often afraid of artificial intelligence based on films such as Terminator, by saying that there are already many works that It depicts AI in a dystopian context, which is very believable and understandable. Imagination needs conflict. There is no point in writing a book or making a movie that doesn’t have a conflict to resolve. And in that case, of course, the AI ​​will misbehave, because movies where AI behaves well are boring, and not the ones I’ve been watching or writing about. along with

Artificial intelligence is of course a very powerful technology that we are just beginning to understand, particularly in terms of its social implications.”

he added.

He also explained that artificial intelligence is a technology that is unfolding in specific areas of competence. It was the latest such language, which has undergone tremendous development. “The evolution of language can affect how people communicate with each other in many ways. As people increasingly use AI to create content and help respond to others in intermediate social interactions such as email or chat. We are beginning to learn how these new technologies are reconnecting our networks. Of course, we have to be careful about them, but we also have to be open to them, because they also have great potential.” – Search future network finder.

Hidalgo returns to to chat He drew attention to the fact that this linguistic model has some shortcomings. But we complement this language model with other types of AI technologies. For example, by using AI techniques that are good at performing various computational operations or those that are able to extract and organize data that can be re-entered into language models. Thus, they can work with appropriate numbers and become more realistic. I think this project is a very interesting piece of technology that not only illustrates the relativity of how an AI language works, but also provides an interface – a connection between two computing devices – that will change the way people interact with existing devices. And by enabling natural language interactions, which has been a longstanding desire in information technology.”

“We’re really up to our necks in AI,” a Hungarian robot maker told Mindner.


“In addition to knowledge, Hungarians also value culture, which is very important.”

As Cesar A. Hidalgo talks about the fact that he has been visiting Budapest since 2010, which he believes is one of the most beautiful cities in Europe. “I really like the people here because they value knowledge. On the one hand, it’s a community with a good sense of humor and its members enjoy socializing and caring for each other. Maybe I see everything as very beautiful from the outside. But from what I’ve seen so far, I’ve concluded that Hungarians value culture as well as knowledge, which is very important.” – He shared his impressions of the Hungarian capital with our newspaper so far.

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Finally, the internationally recognized researcher talked about what he expects from the operation of the center. “I am confident that I will be able to build a team that will be at the forefront of the use of artificial intelligence and data science, as well as to promote the development of the economy and implement new ideas in this field. This project is for five years.

We’re just getting started, but we want to go beyond the original ideas.

Job interviews are still ongoing and we will soon be hiring an Executive Director who will pragmatically manage the day to day work of the group. But, among other things, the CEO will also keep in touch with private sector companies and potential founders.” – The head of the center took his turn.

“We hope to have an event in October where we can invite the public and present our first projects. So these are our goals this year.” Select Cesar A. Hidalgo the main steps for the next period.

Chaired by Cesar A. Hidalgo is currently the Collaborative Learning Center at the Institute for Artificial and Natural Intelligence (ANITI) of the University of Toulouse. Before moving to France, he directed the group learning group at the Massachusetts Institute of Technology (MIT) for over nine years. As Founding Director of Corvinus CCL, his role is to help develop the lab’s strategy and recruit world-class talent, initiate research and manage careers.

Open the image illustration. Photo: Pixabay

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