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Socio-Economic Impacts of Artificial Intelligence and Digitalization in Post-COVID-19 Europe

Author

Listed:
  • Gancho Ganchev
  • Mariya Paskaleva
  • Kalina Durova-Angelova
  • Yordanka Noneva-Zlatkova

Abstract

The present article addresses a problem which is an extremely important, relevant, and under-researched topic. As a whole, Europe lags behind China and other technologically advanced countries in the field of artificial intelligence (AI) and digitalization; Bulgaria is among the worst places in the EU in terms of digitalization of the economy. This research contributes to understanding the social and economic significance of digitization and AI in the EU after COVID-19. The emergence of artificial intelligence in the socio-economic landscape of EU member states, coupled with accelerated digitalization, heralds a new era in their development which is anticipated to enhance productivity, innovation, and efficiency. This article aims to study and analyse the theoretical foundations as well as empirical and legal developments concerning the socio-economic effects of Europe's "digital decade" and the applications of AI in a post-pandemic era. SWOT analysis was conducted to pinpoint the strengths, weaknesses, opportunities, and recommendations associated with the use of AI in EU countries. Conclusions and recommendations are provided for implementing suitable state interventions, transforming the pandemic's challenges into growth through new technologies, and helping to achieve a high standard of living in all EU nations.

Suggested Citation

  • Gancho Ganchev & Mariya Paskaleva & Kalina Durova-Angelova & Yordanka Noneva-Zlatkova, 2025. "Socio-Economic Impacts of Artificial Intelligence and Digitalization in Post-COVID-19 Europe," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 139-171.
    • Handle: RePEc:bas:econth:y:2025:i:2:p:139-171
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    References listed on IDEAS

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    1. Georgiana-Alina Crisan & Madalina Ecaterina Popescu & Eva Militaru & Amalia Cristescu, 2023. "EU Diversity in Terms of Digitalization on the Labor Market in the Post-COVID-19 Context," Economies, MDPI, vol. 11(12), pages 1-19, December.
    2. Ritika Chopra & Gagan Deep Sharma, 2021. "Application of Artificial Intelligence in Stock Market Forecasting: A Critique, Review, and Research Agenda," JRFM, MDPI, vol. 14(11), pages 1-34, November.
    3. Guy Ben-Ishai & Jeff Dean & James Manyika & Ruth Porat & Hal Varian & Kent Walker, 2024. "AI and the Opportunity for Shared Prosperity: Lessons from the History of Technology and the Economy," Papers 2401.09718, arXiv.org, revised Feb 2024.
    4. Kleopatra Nikolopoulou, 2022. "Students’ Mobile Phone Practices for Academic Purposes: Strengthening Post-Pandemic University Digitalization," Sustainability, MDPI, vol. 14(22), pages 1-13, November.
    5. Alina Georgiana Manta & Claudia Gherțescu & Roxana Maria Bădîrcea & Liviu Florin Manta & Jenica Popescu & Cătălin Valentin Mihai Lăpădat, 2025. "How Does the Interplay Between Banking Performance, Digitalization, and Renewable Energy Consumption Shape Sustainable Development in European Union Countries?," Energies, MDPI, vol. 18(3), pages 1-35, January.
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    More about this item

    JEL classification:

    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration

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