Deep Intelligence:Drivers of Productivity Growth in the Post Machine-Labor Substitution Era
Can intelligent manufacturing become China's lever for leapfrogging?One perspective argues that since the range of production tasks is finite,productivity growth may stagnate after machines fully replace human labor,failing to provide sustained economic growth in the future.Using customs data,this paper distinguishes between intelligence at the intensive margin(deep intelligence)and intelligence at the extensive margin(broad intelligence).It highlights that while broad intelligence may plateau once machines have replaced labor in all production tasks,deep intelligence can continue to evolve,offering sustaining momentum for economic growth.The key findings are as follows:(1)Both deep and broad intelligence enhance firms'total factor productivity(TFP),but the productivity gains from deep intelligence are significantly more pronounced.Therefore,even after the completion of labor substitution by machines,deep intelligence continues to drive productivity growth.(2)Deep intelligence increases firms'financing costs due to its high fixed cost and the financing constraint.(3)Both forms of intelligence impact productivity through three channels:innovation,capacity efficiency,and labor efficiency.
万方数据
维普
