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Cited by 345Economic Growth and ProductivityFirm Innovation and GrowthImpact of AI and Big Data on Business and Society

The impact of artificial intelligence on labor productivity

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Damioli, Giacomo, Van Roy, Vincent, Vertesy, Daniel·2021·Eurasian Business Review
DOI 10.1007/s40821-020-00172-8
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Abstract

Abstract Recent evidence indicates an upsurge in artificial intelligence and robotics (AI) patenting activities in the latest years, suggesting that solutions based on AI technologies might have started to exert an effect on the economy. We test this hypothesis using a worldwide sample of 5257 companies having filed at least a patent related to the field of AI between 2000 and 2016. Our analysis shows that, once controlling for other patenting activities, AI patent applications generate an extra-positive effect on companies’ labor productivity. The effect concentrates on SMEs and services industries, suggesting that the ability to quickly readjust and introduce AI-based applications in the production process is an important determinant of the impact of AI observed to date.

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Research works printed but not linked: 5

  1. Bianchini, S., Muller, M., & Pelletier, P. (2020b). Deep learning in science . arXiv :2009.01575 v2. · arXiv
  2. Ertel, W. (2018). Introduction to artificial intelligence: Undergraduate topics in computer science . New-York: Springer International Publishing.
  3. European Commission (2003). Commission recommendation of 6 May 2003 concerning the definition of micro, small and medium-sized enterprises. Official Journal of European Union , L124/36.
  4. Ernst, H. (1995). Patenting strategies in the German mechanical engineering industry and their relationship to firm performance. Technovation, 15 (225), 240.
  5. Solow, R. (1987). We'd better watch out, New York Times Book Review, July 12, p. 36.

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Authors
Damioli, G., Van Roy, V., & Vertesy, D.
Affiliations
Joint Research Centre (IT)
Corresponding author
Damioli, Giacomo
ORCID
Damioli, Giacomo
Venue
Eurasian Business Review
Publisher
Springer Science and Business Media LLC
Published
2021-01-21
Volume
11
Issue
1
Pages
1-25
ISSN
  • 1309-422X (ISSN-L)
  • 1309-4297
  • 2147-4281
DOI
10.1007/s40821-020-00172-8
OpenAlex
W3124534840
Cited by
345
References
84
Citations by year
2026: 87 · 2025: 112 · 2024: 76 · 2023: 40 · 2022: 22 · 2021: 8
FWCI
27.82
Type
journal article
Language
en
Open access
Licence
Locations
  • Eurasian economic review : (publishedVersion, cc-by)
  • Research Publications (Maastricht University) (publishedVersion, cc-by)
  • RePEc: Research Papers in Economics (submittedVersion, cc-by)
  • Research Publications (Maastricht University) (submittedVersion, other-oa)
Funders
Horizon 2020 Framework Programme (857088)
Topics
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Growth and Productivity
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Firm Innovation and Growth
  • Social Sciences › Decision Sciences › Management Science and Operations Research › Impact of AI and Big Data on Business and Society
Keywords
artificial intelligence, labor productivity, AI patents, robotics, firm productivity, small and medium-sized enterprises, service sector, technology adoption, patent activity

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