Can Artificial Intelligence Improve Firms’ Competitiveness during the COVID-19 Pandemic: International Evidence

Da Xu, Ye Guo and Mengqi Huang

Emerging Markets Finance and Trade, 2021, vol. 57, issue 10, 2812-2825

Abstract: We conduct a textual analysis of 0.9 million product announcements to examine how artificial intelligence (AI) is reshaping market competition during the COVID-19 pandemic. We find that the revenues for firms that were engaged in AI before the pandemic increased faster in 2020. This effect is potentially due to the increased human digital footprint and is stronger in developing countries and countries with better property rights protection. Overall, our study has implications for practitioners and policymakers about the benefits of applying AI and cautions against blindly pursuing AI without considering national backgrounds.

Date: 2021
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DOI: 10.1080/1540496X.2021.1899911

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