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

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."