At the IV. National Regulatory Conference in Budapest, Rigó Csaba Balázs, the president of the Hungarian competition authority (GVH), highlighted the importance of finding ideal balances among sustainability, economic growth, digitalization, and consumer protection. He stressed the need to protect children and families in the digital space, calling for a broad collaboration to achieve this goal.

Balázs pointed out that a strategy is required that utilizes digitalization and artificial intelligence technologies to enhance the competitiveness of domestic businesses. He emphasized that regulations should support these objectives.

He also noted the critical importance of knowledge sharing among authorities, especially in light of rapid technological and professional developments that can lead to isolation among policy areas. The challenges faced by various sectors and society as a whole are global and transcend individual policy and scientific fields.

Discussing sustainability, Balázs recalled that the GVH published a market analysis on green claims in January 2024, which highlighted that many domestic businesses communicate about sustainability in broad and inconsistent ways. Many companies rely on dubious certifications and logos to support their 'green' operations, while a significant portion of consumers are unaware of the exact content of these claims.

He described the challenge of sustainable economic transition, mentioning the phenomenon of greenwashing, which, despite being reduced in recent years due to regulatory efforts, remains a common practice.

Balázs also pointed out that artificial intelligence has become an important aspect of the discourse on sustainability and economic growth. He stated that AI's efficiency-enhancing capabilities could serve as a breakthrough point for medium-developed countries. The GVH's market analysis on AI conducted last year indicated that widespread application of AI, particularly among small and medium-sized enterprises, is necessary for achieving this impact.

He concluded by stating that the ideal path in the maze of sustainability, economic growth, digitalization, and consumer protection points towards balance, allowing for innovation while ensuring the safety of Hungarian consumers amidst the rise of digitalization without compromising long-term sustainability goals.