Embracing Artificial Intelligence: How Does Intelligent Transformation Affect the Technological Innovation of New Energy Enterprises?

Abstract

Artificial intelligence (AI) technology is profoundly reshaping the new energy sector, demonstrating significant potential in optimizing decision-making, enhancing operational efficiency, and boosting productivity. However, existing literature offers limited insight into how AI facilitates innovation within new energy enterprises. Using data from 145 Chinese A-share listed companies from 2011 to 2022, this study employs a staggered difference-in-differences model to investigate the impact of intelligent transformation on technological innovation in new energy enterprises. The results show that: 1) Intelligent transformation significantly drives technological innovation in new energy enterprises, with digital financial development and the presence of senior executives with information technology backgrounds serving as positive moderating factors; 2) Attracting government subsidies, improving internal control quality, and promoting human capital upgrades serve as critical channels through which intelligent transformation in new energy enterprises generates innovation incentive effects; and 3) Intelligent transformation generates adverse spatial spillover effects on the technological innovation of neighboring enterprises, mainly through the siphoning of innovation resources. Neighboring new energy enterprises within the same subindustry face stronger negative spillovers, while enterprises with greater market power are less affected. These insights inform targeted policy recommendations to address these dynamics.