CFIC Introduction
Recently, the "Promoting Innovation with Financing and Improving Quality with Wisdom - Series of Forums on High-quality Development of Listed Companies (Phase VII)" was held in the "Oriental Sapphire" China Financial Information Center. At the meeting, Yang Yanqing, executive director of digital economy research of Shanghai Artificial Intelligence Laboratory, delivered a keynote speech entitled "AI Large Model and New Quality Productivity". From the perspectives of political economy, macroeconomics, and industrial policy, she discussed the key role of AI in economic growth and industrial transformation.
Yang Yanqing first explained the connotation of the new quality of productivity from a theoretical point of view, combined it with Marxist economics and Schumpeter's growth theory, believed that the new quality of productivity plays an important role in China's economy, and emphasized the importance of innovation. She said that AI is an important new quality productivity that will play a key role in economic growth, and is expected to bring huge total factor productivity gains to future growth in China and the world. As a new quality of productivity, the recent breakthroughs in artificial intelligence are manifested in new technologies, new products and new production models. Generative AI, represented by the GPT model, with its Transformer architecture and left-to-right autoregressive learning mode, has opened the door for humans to move towards AGI (Artificial General Intelligence, an intelligence level similar to human intelligence). ChatGPT, as a popular product all over the world, has formed a business model in a very short period of time. The combination of generative AI and artificial intelligence, which is good at prediction in the past, together with embodied intelligence, constitutes a new paradigm of AI serving the economy, which will become the most widely used and effective new quality productivity, empowering and changing human society and life.
Yang Yanqing also had an in-depth discussion on artificial intelligence and economic research. She said that AI provides a new perspective and method for economic research. Through technologies such as machine learning, deep learning, and large models, economists can grasp the internal laws of economic phenomena more quickly and accurately, and provide strong support for policy formulation and market forecasting. In addition to being a tool and a tool, AI technology itself is driving a paradigm shift in economics research, and scientists are currently using AI methods to try to answer fundamental questions about economics. In particular, it should be pointed out that artificial intelligence is not only a technology, but also a meta-technology, and through AI for Science, artificial intelligence is forming a new paradigm of scientific research, profoundly affecting the future of science, technology and human beings.
In terms of industrial policy, appropriate industrial policy can promote industrial growth and economic development within a certain range, but it is also necessary to be cautious about risks such as resource misallocation and "policy capture". Yang Yanqing pointed out that there are boundaries and conditions for the success of industrial policy, and only by making good use of industrial policy can we achieve good efficiency and welfare results. At the same time, she stressed that if low-carbon and sustainable development are also included in the model, the space and performance of industrial policies will be improved.
Finally, Yang Yanqing looked forward to the prospect of co-evolution between artificial intelligence and humans. She believes that AI will become an important engine for social development and will have a profound impact on economic growth, the labor market, income distribution, and humanity itself. As the creators of AI, humans need to ensure that the development of AI is in the long-term interests of mankind. She pointed out that in the process of co-evolution with AI, learning ability, values, and humanity are still the fundamental forces to maintain the prosperity of human civilization.
It is reported that the event was guided by the China Association of Listed Companies and the Cooperation and Exchange Office of the Shanghai Municipal People's Government, hosted by the China Financial Information Center of Xinhua News Agency, the Shanghai Federation of Industrial Economics, the Shanghai Association of Listed Companies, and the Education Development Center of the School of Economics of Fudan University, co-sponsored by the Bank of Ningbo, and supported by the Shanghai Society for the Integration and Development of Science and Technology and Economy, the Shanghai Yangtze River Delta Industrial Empowerment Research Institute, Ernst & Young Certified Public Accountants, and JunHe Law Firm.
Text: Song Ge
Co-ordinator: Gu Zhiran
Source of this article: China Financial Information Center Lujiazui Financial Network
WeChat editor: Guan Qiao
Introduction to "Risk Warning: Financial Edition".
Finance is the lifeblood of the modern economy, and financial stability leads to economic stability. Financial security is related to the overall development of national and regional enterprises, and it is necessary to maintain a high degree of vigilance against financial risks at all times, enhance the awareness of risk prevention, respond scientifically, and prevent them from occurring. Under the guidance of the authoritative government departments, relying on the advanced big data public opinion monitoring system and a professional analyst team, the "Risk Warning Financial Edition" produced by the China Financial Information Center summarizes, analyzes, and judges the risk public opinion in different fields and categories of the financial industry, and provides authoritative, professional, practical, timely and effective financial risk public opinion monitoring, research and judgment, early warning and response suggestions for financial regulatory departments, factor markets, financial institutions, listed companies, industry associations, various enterprises, colleges and universities, research institutions, etc. 18,000 per year, once a week, released every Friday.
Latest Report:
【April 2024 Issue 4】Total Issue 124: Regulatory penalties for public funds are exposed
【April 2024 Issue 3】Issue 123: Industry Reshuffle!
【April 2024 Issue 2】Total Issue 122: The dream of the gold exchange is finally empty