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All Journal Muslim Business and Economic Review
Baseedy Bojang
School of Business and Public Administration, Department of Economics and Finance, University of The Gambia
Economics, Econometrics & Finance

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Artificial Intelligence, Firm Heterogeneity, and Labor Market Adjustment: Evidence from Service and Industrial Tech Sectors in Italy Ebrima K. Ceesay; Mamadou Salieu Jallow; Cosimo Magazzino; Alasana Gitteh; Baseedy Bojang
Muslim Business and Economics Review Vol. 5 No. 1 (2026)
Publisher : Universitas Islam Internasional Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56529/mber.v5i1.591

Abstract

This study assesses how changes in AI patent stock affect employment, wages, productivity, and labor cost shares. It compares pooled estimates with firm-specific effects for UniCredit and Zerynth in Italy, representing the banking services and industrial tech sectors, respectively. Using a firm-level panel dataset from 2005 to 2024, the study applies task-based and skill-biased technological change frameworks to analyze how exposure to Artificial Intelligence (AI), proxied by AI patent stock, affects labor-market dynamics in the Italian economy. Our empirical strategy used fixed-effects regressions. The results show a dual pattern of technological adjustment. In pooled models, AI-related innovation has a positive and statistically significant effect on labor-market outcomes. However, when firms are analyzed separately, the effects diverge. For UniCredit, AI patent stock reduces employment and labor cost shares while raising productivity growth, with wage effects remaining small or insignificant. On the other hand, for Zerynth, AI patent stock produces consistently negative and significant effects on employment, wages, and labor cost shares. Overall, the findings highlight strong task-level substitution but heterogeneous firm-level outcomes, underscoring the need for targeted reskilling and labor-augmenting innovation policies in Italy’s digital transition.
Co-Authors Alasana Gitteh Cosimo Magazzino Ebrima K. Ceesay Mamadou Salieu Jallow