The Faculty of International Management and Business of Budapest Business School BBS), together with the Faculty Zalaegerszeg Faculty of Business Administration has established the Centre of Excellence for Cybereconomy (CEC). The aim of this Centre, in line with the research strategy of BBS, is to enhance and focus high-quality applied research of the Faculty related to Industry 4.0 and to the development of cybereconomy.

The ever increasing complexity of products and processes, as well as the increasing speed of technological development creates huge changes in the operation of various industries. Among these changes we witness the diffusion of cyber-physical production systems and new modes of operation and business logic which is often referred to as Industry 4.0, the coming of the factories of the future, or smart manufacturing. These changes are not only technological issues, they affect the broader economic systems and the society as a whole, too. Based on these far-reaching changes many call these trends as the fourth industrial revolution. The research focus of our Centre is on the socio-economic aspects of these technological changes, name it Industry 4.0 or fourth industrial revolution. The Centre is focusing on the new business models, the economic and labour market impact of robotization and artificial intelligence, industrial adaptation to these new challenges and, most importantly, the analysis of how these global trends influence the Hungarian economy, how is it possible to improve the preparedness of the local economy to these phenomena.

The Centre has a dual task. First, its research activity contributes to the development and transfer of new knowledge relevant for local enterprises in the field of business and economics. Second, its involvement in education may contribute to the provision of the new generation of economists, who are understanding the emerging new economy and are capable of succeeding in the 21st century.

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