From algorithms to invention: AI’s impact on corporate innovation output and efficiency

IF 3.1 3区经济学 Q1 ECONOMICS

Quarterly Review of Economics and Finance Pub Date : 2025-09-03 DOI:10.1016/j.qref.2025.102042

Langang Feng , Jin Hu , Minmin Huang , Muhammad Irfan , Mingjun Hu

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Abstract

This paper explores how artificial intelligence (AI) drives corporate innovation. Using a procurement‑based AI adoption index, patent records, and supply‑chain data from 4004 A-share firms over 2011–2023, we find that greater AI adoption significantly increases the output and efficiency of firms' innovation. We propose a dual‑channel model in which AI enhances knowledge creation and reuse (knowledge orchestration) and transforms data into actionable environmental assets (data assetization). Heterogeneity analysis reveals that large incumbents and growth‑stage firms leverage AI most effectively for innovation outputs and efficiency. Further analysis shows that AI-driven innovation is amplified in firms with executives who have information technology backgrounds, and that highly innovative firms diversify their supply chain to reduce resource risk. Our results demonstrate AI’s potential to advance corporate innovation. We conclude with policy recommendations for municipal planners and corporate strategists to enhance firms’ competitive advantage and promote the development of AI.

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从算法到发明：人工智能对企业创新产出和效率的影响

本文探讨了人工智能（AI）如何推动企业创新。利用基于采购的人工智能采用指数、专利记录和2011-2023年4004家a股公司的供应链数据，我们发现人工智能采用程度越高，企业的创新产出和效率就越高。我们提出了一种双通道模型，其中人工智能增强了知识的创造和重用（知识编排），并将数据转换为可操作的环境资产（数据资产化）。异质性分析显示，大型企业和成长期企业最有效地利用人工智能来提高创新产出和效率。进一步的分析表明，在高管拥有信息技术背景的公司中，人工智能驱动的创新被放大了，高度创新的公司使其供应链多样化以降低资源风险。我们的研究结果证明了人工智能在推动企业创新方面的潜力。最后，我们为市政规划者和企业战略家提供了政策建议，以增强企业的竞争优势，促进人工智能的发展。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Quarterly Review of Economics and Finance ECONOMICS-

CiteScore

6.00

自引率

2.90%

发文量

118

期刊介绍： The Quarterly Review of Economics and Finance (QREF) attracts and publishes high quality manuscripts that cover topics in the areas of economics, financial economics and finance. The subject matter may be theoretical, empirical or policy related. Emphasis is placed on quality, originality, clear arguments, persuasive evidence, intelligent analysis and clear writing. At least one Special Issue is published per year. These issues have guest editors, are devoted to a single theme and the papers have well known authors. In addition we pride ourselves in being able to provide three to four article "Focus" sections in most of our issues.