Artificial Intelligence and the Development of “Specialized, Refined, Unique, and Innovative” Small- and Medium-Sized Enterprises

Abstract

“Specialized, Refined, Unique, and Innovative” (SRUI) enterprises are a crucial part of the national innovation system and play a significant role in enhancing national core competitiveness by leveraging strengths and addressing weaknesses. Given the limited quantitative analysis on the productivity of SRUI enterprises in the academic field, this paper constructs an enterprise-level artificial intelligence index based on text analysis and machine learning. Using panel data from 2018 to 2022, we investigate the impact of artificial intelligence on the productivity of SRUI small- and medium-sized enterprises (SMEs). The research findings indicate that (1) artificial intelligence significantly enhances the productivity of SRUI SMEs, and for each one standard deviation increase in artificial intelligence, the productivity level of SRUI enterprises will increase by 6.82%. (2) Mechanism tests reveal that artificial intelligence improves productivity by optimizing labor structure, improving labor resource allocation, stimulating endogenous motivation and innovation vitality within enterprises, and enhancing management level and investment efficiency. (3) Heterogeneity analysis indicates that at the regional level, artificial intelligence significantly boosts the productivity of enterprises with well-developed network infrastructure and robust intellectual property protection systems. At the industry level, AI has a more pronounced effect on the productivity of technology-intensive and competitive industries. Additionally, we also find that the impact of AI on productivity is more significant in enterprises with younger executive teams and executives with digital and intelligent education backgrounds. This study expands the research scope of productivity and provides valuable insights for the government to optimize digital economy policies and for enterprises to formulate digital innovation strategies.