How Does the Application of AI Technologies Affect Firm Innovation
The application of artificial intelligence(AI)technologies is a key engine for enhancing firm innovation and thereby generating new quality productive forces.How can firms leverage AI technologies to drive innovation?Although AI technology is increasingly integrated into firms'production activities,our understanding of its role in enhancing innovation remains limited.This study estimates the effects of AI technology applications on firm innovation using data from Chinese listed firms from 2009 to 2022.This study categorizes AI technologies into two dimensions:logic-based AI technologies and learning-based AI technologies.Furthermore,this study utilizes a machine learning method to generate an AI dictionary and conducts a textual analysis of annual reports from listed firms to build indicators of AI technology applications.Our findings indicate that the application of AI technologies significantly enhances firm innovation,and this effect is achieved through three channels:increasing knowledge diversity,breaking organizational routines,and improving resource allocation efficiency.Additionally,a firm's absorptive capacity enhances the positive impact of AI technology applications on innovation.Compared to logic-based AI technologies,the application of learning-based AI technologies has shown a more significant role in promoting firm innovation.According to the Oaxaca-Blinder decomposition results,AI technology applications are important factors in explaining differences in innovation among firms,with stronger explanatory power in firms with high productivity and high human capital.Furthermore,AI technology applications significantly promote incremental innovation in firms,while not having a significant impact on breakthrough innovation in the short term.However,they can promote breakthrough innovation in the long term.The findings of this study indicate that to fully leverage the innovative effects of AI technologies,it is essential to strengthen support in knowledge resources,cross-sector collaboration,and resource allocation.The government should increase the openness and sharing of knowledge resources,actively promote cross-sector cooperation,and optimize financial support and subsidy policies by implementing differentiated support strategies.Firms should integrate various AI technologies to build intelligent application systems,establish flexible organizational structures to facilitate cross-departmental collaboration,and improve investment evaluation systems.Unlike existing literature,this study delves into the characteristics of AI technologies,theoretically analyzing how AI technology applications can foster firm innovation by enhancing knowledge diversity,breaking organizational routines,and improving resource allocation efficiency.This study examines the impact of AI technology applications on different types of innovation,thereby enriching existing literature.This study provides new empirical evidence on how the application of AI technologies can enhance firm innovation.
AI technology applicationsknowledge diversityorganizational routinesresource allocation efficiencyfirm innovation
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