Human dynamics of automation and digitalisation of economies: Discussion on the challenges and opportunities

The current chapter addresses the automation and digitalisation of European economies by adapting a comprehensive approach to this multifaceted phenomenon, through a focus on humans - both employed workers and entrepreneurs. Initially, the chapter highlights trends in this regard by specifically referring to artificial intelligence, robotics, internet of things (IOT) and 3-D manufacturing. This discussion is followed by a specific discussion on the people challenges - especially in relation to the job losses in Europe, alongside which we make use of publicly available statistics to complement the arguments presented in the chapter. Our chapter also discusses the opportunities presented to people through these technological advancements. We highlight new work and entrepreneurial areas that are being opened up through it, and also refer to the new skillset needs that will allow individuals to take advantage of these opportunities. Finally, the chapter considers specific theoretical and policy implications associated with the automation and digitalisation of European economies.