The phenomenon of AMT, when atoms penetrate into solid metals and alloys to the depths up to hundreds of microns in times not exceeding hundredth of second was discovered in the Institute of Metal Physics (IMP), Kiev, Ukraine in the mid-1970s. Investigations conducted since that time (mostly at IMP)found technologies where AMT occurs (e.g. mechanical impact compression, high-speed rolling, explosive welding, pulse laser irradiation,etc.)but there is no common point of view about mechanisms of AMT and phenomena as a result of it. The aim of the presentation at the conference is to discuss mechanisms of AMT and phenomena caused by it (dynamic microstructure polygonization, formation of solid solutions with concentrations exceeding the ones obtained by diffusion in quasi-equilibrium conditions, and formation of metastable phases) together with some technology and engineering facts about AMT's important roles.