Impact of artificial intelligence on energy efficiency in Chinese enterprises

The new generation artificial intelligence innovation and development pilot zone (NNAIPZ) serves as a crucial policy tool for government environmental governance. Investigating the impact of NAIPZ policy on energy efficiency (EE) is vital for actively and steadily advancing the dual carbon goals. Using Chinese listed enterprises as samples, we employ a multi-period difference-in-difference model and machine learning methods to evaluate the effect and mechanism of NAIPZ on EE. Results show that (1) NAIPZ significantly improves the EE of enterprises. This conclusion still holds even after applying the generalized random forest method for robustness testing. (2) NAIPZ promotes the improvement in EE by encouraging technical innovation and R&D investment. (3) The effect of NAIPZ on improving EE is more significant in enterprises located in the eastern region, non-state-owned enterprises, and heavily polluting enterprises. (4) Financing constraints weaken the effect of NAIPZ on improving EE, while media attention strengthens the relationship between NAIPZ and enterprise EE. This study reveals the inherent logic behind the effect of NAIPZ on EE. It provides insights that help the government actively and prudently develop artificial intelligence, thereby promoting economic green transformation and effectively addressing climate change.