NatalieLopez

 28 Nov 23

tl;dr

The Impact of Artificial Intelligence on Employment and Wages in Europe A recent research study published by the European Central Bank evaluated the link between AI-enabled technologies and employment shares in 16 European countries between 2011-19. The study showed that AI-enabled automation was ...

The Impact of Artificial Intelligence on Employment and Wages in Europe

A recent research study published by the European Central Bank evaluated the link between AI-enabled technologies and employment shares in 16 European countries between 2011-19. The study showed that AI-enabled automation was associated with employment increases in Europe, particularly for high-skill occupations and younger workers. However, the impact of using artificial intelligence suggested neutral to slightly negative impacts on wages.

The researchers found that AI-enabled automation was more favorable for jobs that employ relatively younger workers, with the estimated benefit for the younger group being double that for other age groups. The study also analyzed the effects of AI exposure on employment shares and wages, noting mixed results across the 16 European countries. These findings have significant implications for the future of AI in the European labor market and underscore the need for policies to govern AI technology.

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