Economic consequences of artificial intelligence and labor automation: Employment recovery, transformation of labor markets, and dynamics of social structure in the context of digital transformation Tokunova Anastasiia1,*, Zvonar Viktor2, Polozhentsev Dmytro3, Pavlova Valentyna4, Teres Yuliia5 1Department of Economic and Legal Research of Economic Security Issues, State Organization “V. Mamutov Institute of Economic and Legal Research of the National Academy of Sciences of Ukraine”, Kyiv, Ukraine 2Department of Economic Theory and Competitive Policy, Faculty of Economics, Management and Psychology, State University of Trade and Economics, Kyiv, Ukraine 3Department of Personnel Management, Labor Economics and Public Administration, Interregional Academy of Personnel Management, Kyiv, Ukraine 4Department of Entrepreneurship, Alfred Nobel University, Dnipro, Ukraine 5Faculty of Law, Economics and Finance, University of Luxembourg, Luxembourg *Corresponding author: anastasiya.to@gmail.com (ORCID ID: 0000-0002-5870-2473)
Online published on 15 July, 2024. Abstract Globalization, industrialization, and digitalization have led to structural changes in the economy and labor markets, affecting their internationalization, flexibility, labor mobility, and the emergence of new forms of employment. The purpose of the academic paper is to identify the economic consequences of digital transformation and automation of labor markets on the example of the EU-27 countries for the period 2013-2022. The structural-functional analysis was used in the academic paper to characterize and systematically study the economic consequences of digitalization and automation in the labor markets of the EU-27 countries. The functioning of the labor market in various EU-27 countries in the context of digital transformation is characterized by a number of features. The EU-27 labor markets are characterized by rapid employment recovery, especially during the pandemic and economic downturn in 2020, and employment revival in 2021-2022. Highlights • Changes in the labor market of the European Union, driven by globalization, industrialization, and digitalization have led to rapid employment recovery and an increase in wage levels, especially in EU member countries, along with the emergence of new forms of employment, such as telecommuting and others. • The implementation of digital technologies in the modern European labor market has resulted in a growing significance of higher education, the development of digital skills among workers, and the need for continuous updating of competencies through practical experience, training, and professional development. Top Keywords Labor automation, Digital transformation, Labor markets, Transformation of the EU labor market, The EU employment, Forms of employment. Top |