Artificial intelligence, firm growth, and product innovation

🤖 Plain-English Summary

We study the use and economic impact of AI technologies. AI-powered growth concentrates among larger firms and is associated with higher industry concentration.

🔑 Key Findings

We propose a new measure of firm-level AI investments using employee resumes.
Our measure reveals a stark increase in AI investments across sectors.
AI-investing firms experience higher growth in sales, employment, and market valuations.

💡 Why This Matters

Mathematical breakthroughs form the theoretical backbone of science, cryptography, data analysis, and engineering.

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📋 Article Details

Category	∑ Mathematics
Published	Nov 23, 2023
Journal	Journal of Financial Economics
Authors	Tania Babina, Anastassia Fedyk, Alex Xi He, James Hodson
DOI	10.1016/j.jfineco.2023.103745
Citations	1,050
Source	OpenAlex

🗂️ Research Categories

🤖 Artificial Intelligence 🧬 Medicine & Biology ⚛️ Physics & Space Science ⚙️ Engineering & Technology ∑ Mathematics