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SUMMARY:Artificial Intelligence\, Firm Growth\, and Product Innovation
DTSTART:20211126T050000
DTEND:20211126T060000
DTSTAMP:20260922T015631Z
UID:30514d6624e2cc7fe4b8f7002d5fc1753942f150af7e7f123f7c5351
CATEGORIES:Conferences - Seminars
DESCRIPTION:Anastassia Fedyk\, UC Berkeley\, Haas School of Business\nWe s
 tudy the use and economic impact of AI technologies among US firms. We pro
 pose a new measure of firm-level AI investments\, using a unique combinati
 on of job postings and worker resume datasets. Our measure reveals a stark
  increase in AI investments across most sectors over the past decade. Firm
 s that invest more in AI experience faster growth in sales\, employment\, 
 and market valuation. This growth is achieved primarily through increased 
 product innovation: AI-investing firms see increased trademarks\, product 
 patents\, and updates to their product portfolios. At the aggregate level\
 , AI investments are associated with increased industry concentration and 
 winner-take-most dynamics\, as AI benefits larger firms more. Our results 
 highlight how new technologies like AI can expand firms' investment opport
 unities by facilitating product innovation.
LOCATION:Zoom
STATUS:CONFIRMED
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