Abstract:     Exploring the integration of artificial intelligence (AI) with the real economy is an important issue for reconstructing industrial development paradigms and fostering the emergence of intelligent economic forms. Existing research primarily examines the micro-level impacts of AI from perspectives such as production efficiency and employment structure, but lacks a comprehensive discussion on whether enterprises can leverage AI to enhance their competitive advantage. Based on this, this study used manufacturing listed companies in the Shanghai and Shenzhen A-share markets from 2007 to 2022 as the research sample to empirically test the impact of AI adoption on enterprise competitive advantages using a fixed effects model. The results showed that AI adoption contributes to enhancing enterprise competitive advantage, and the conclusion remains robust even after addressing issues such as endogeneity, substitution variables, and other robustness tests. The contextual analysis indicated that enterprises can effectively improve their competitive advantage only when AI is embedded in specific application scenarios, complemented by appropriate assets, and supported by enhanced technological capabilities. The mechanism tests revealed that AI adoption enhances competitive advantage through improvements in production efficiency and innovation efficiency. Further research suggested that the positive impact of AI on competitive advantage is more evident in latecomer enterprises and those with faster adoption speeds. The conclusion of this study has not only addressed the fundamental question of whether AI, as a general-purpose technology, contributes to improving enterprise competitive advantage but also will provide certain empirical evidence and managerial insights on how traditional enterprises can leverage AI to create unique value and enhance their competitive position.

Key words: AI adoption, production efficiency, innovation efficiency, enterprise competitive advantage