Prof. Amalendu Bhunia
Department of Commerce, University of Kalyani, India
Title: AI and Firm Innovation: Does Artificial Intelligence Promote Business Innovation?
Abstract:
Artificial
intelligence (AI) applications are rapidly reshaping business operations and
may be a crucial driver of enhancing a firm’s ability to create and capture
value from innovation. However, empirical evidence on the long-term nexus
between AI and firm innovation remains scarce, particularly in emerging
economies. The study constructs a firm-level panel dataset spanning 2015 to
2025, with eleven years of observations across 23 Indian manufacturing sectors.
Firm-level financial data and firms’ patenting records were obtained from CMIE
Prowess and relevant patent databases for AI-related technology activity. AI
intensity is constructed from firm-level AI-related patenting. Control
variables include firm size, firm age, R&D intensity, capital intensity,
leverage, profitability, human capital, and industry fixed effects. This study
used descriptive statistics, correlation analyses, and panel data estimation to
explore the relationship between AI intensity and firm innovation. Results
indicated that AI intensity positively affected firm innovation by improving
knowledge creation, increasing information processing capabilities, minimizing
experimentation costs, and stimulating the development of new products and processes.
The findings contribute to the literature of business economics and innovation
by clarifying the role of AI in technological innovation and reinforcing
competitive ability.
Keywords: Artificial intelligence, firm innovation, business
innovation, manufacturing firms.
Biography:
Dr. Amalendu Bhunia is the former Vice-Chancellor and the former Dean, Faculty of Arts & Commerce, University of Kalyani, West Bengal, India. He is a Professor, Department of Commerce, University of Kalyani. He has experience in teaching the subject of finance, taxation, and statistics for more than 28 years. He has published 108 research articles in foreign and national journals, 13 research articles in edited volume, and 16 books in national and international repute. At present, his Google Scholar Citation is 2018 with an h-index of 25. He has completed 4 research projects. His research interests are in the financial markets, corporate finance, international finance, and behavioral finance. He has presented 60 research papers at various international and national conferences. He served as an Editor-in-Chief, American Journal of Theoretical and Applied Business (Science Published Group, USA) for two years. Also, he served an Editor-in-Chief, Indo-Asian Journal of Finance and Accounting and Indian Journal of Finance and Economics (Academic Research Foundations Journals, India). Dr. Bhunia acted as a keynote speaker in 52 national, 25 international, and 14 foreign conferences. He is specialized as a resource person in the subject of ‘Research Methodology’ and ‘Statistical Analysis on Quantitative Data’.