Labor Market Prospects as a Result of Implementation of Digital Technologies in the Financial Sector

The path of human development has always been aimed at identifying innovations and improving the quality of life. It is noteworthy that, especially recently, the development of the latest topologies is lightning fast, creating a perfect version at each subsequent stage, and very often people do not even have time to follow the dynamics of development. However, like almost all economic phenomena, this development also has both its positive and negative sides. In particular, with the introduction of the latest digital technologies, the business environment becomes easier to manage., strives to be more secure and improves productivity by providing greater fair value. But at the same time, the introduction of digital technologies is pushing the labor market into a crisis situation, since an automated mechanism is replacing a person, which in many cases is a more profitable option for the employer. This phenomenon in itself causes an increase in the unemployment rate, which is one of the most important strategic tasks for any country. This article aims to present the implications of the introduction of digital technologies in the financial sector., analysis and vision of the development of the financial sector of developing countries, both in the Republic of Armenia and in the international arena, in accordance with the Armenian economy. The causal article presents the impact of digital technologies on the labor market in the financial and banking sector, the pros and cons of this phenomenon. The article concludes with a conclusion drawn from the analysis and comparison of the above-mentioned phenomena.