How Does Artificial Intelligence Improve Enterprises'Total Factor Productivity:Based on the Perspective of Technological Innovation and Technology Application
As an important driving force leading the new round of scientific and technological revolution and industrial change,artificial intelligence(AI)has become an important force driving the development of the economy and new quality productive forces,and innovation is the fundamental driving force for the development of new quality productive forces.Due to the new technology and new products brought by AI technology innovation and efficient operation of traditional enterprises brought by the technology application have become two fundamental paths to drive the enterprise total factor productivity(TFP).Therefore,clarifying the differential impact of technological innovation and technology application on enterprise TFP is of great significance in realizing the high-quality development of enterprises.Based on the data of Chinese A-share listed companies from 2010 to 2023,this paper empirically examines the impact and mechanism of AI on enterprise'TFP from the dual perspectives of technological innovation and technology application.It is found that both AI technological innovation and technology application can enhance enterprise TFP;the enhancement effect of AI technological innovation and technology application on enterprise'TFP is more obvious in high data-asset,asset-light operation mode,and non-state-owned enterprises,the enhancement effect of AI technological innovation on enterprise'TFP is more obvious in high-tech enterprises,and vice versa for AI technology application.AI technological innovation enhances enterprise'TFP by reducing costs,optimizing labor skill structure and promoting innovation,but AI technology application does not enhance enterprise'TFP through enterprise innovation;and the impact of AI on enterprise'TFP shows a short-cycle time lag effect.Compared with existing literature,the marginal contributions of this paper are as follows.First,this paper enriches the research perspectives of AI to improve enterprise'TFP.Existing micro-level studies on the impact of AI on enterprise'TFP tend to focus on a single technological innovation or technology application perspective,which detracts from comprehensively analyzing the differences and synergies between the two.This paper analyzes AI from the dual perspectives of technological innovation and technology application,deepening the understanding of the impact of AI on enterprise'TFP.Second,this paper proposes that AI improves enterprise'TFP by reducing enterprise costs,optimizing the structure of labor skills,and promoting enterprise innovation.It examines the differentiation of these three mechanisms in technological innovation and technology application,deepening the explanation of the mechanism of AI promoting enterprise'TFP.
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