學術研究 • ACADEMIC RESEARCH 58 澳大新語 • 2025 UMAGAZINE 32 「學術研究」為投稿欄目，內容僅代表作者個人意見。 Academic Research is a contribution column. The views expressed are solely those of the author(s). 沈鴻川是澳門大學工商管理學院會計與資訊管理系助理教授。他在香港中文大學取得博士學位。他的研究重點是資 訊系統經濟學，包括網絡平台的資訊設計、線上廣告、雙邊市場以及人工智能的社會影響。他的研究成果發表於 《資訊系統研究》（Information Systems Research）、《自然–通訊》（Nature Communications）、《美國國家科學院院刊》 （Proceedings of the National Academy of Sciences of the United States of America）等頂尖學術期刊。 Shen Hongchuan is an assistant professor in the Department of Accounting and Information Management of the Faculty of Business Administration at the University of Macau. He received his PhD from The Chinese University of Hong Kong. Prof Shen’s research focuses on the economics of information systems, including information design on online platforms, online advertising, two-sided markets, and the social impacts of artificial intelligence. His research has been published in top-tier academic journals, including Information Systems Research, Nature Communications, and Proceedings of the National Academy of Sciences of the United States of America. research concerns underperforming firms. We discovered that while underperforming firms could potentially benefit ‘more’ from an additional unit of AI investment—meaning AI could make a greater positive impact on their production outputs—their actual realised productivity was often lower than that of their better-performing counterparts. This gap is mainly due to a lack of complementary investments, such as organisational design changes, staff training, or strategic infrastructure improvements. This finding highlights a critical phenomenon: investing in AI technology is not a ‘one-click solution’. To unlock AI’s full potential, it must be coupled with the right organisational strategies, especially for struggling businesses. Simply purchasing software or hiring a few engineers will never be enough. Beyond Goods Production: Where AI’s Resilience Shines (and Where It Does Not) It is important to note that our findings, while significant, do not apply universally across all contexts. Our study primarily focused on firms in goods-producing sectors that use AI as an auxiliary technology. We did not observe similar resilience effects in service industries or among firms whose primary business is inventing AI. Additionally, while AI demonstrated consistent resilience against natural disaster shocks, we did not find the same effects for uncertainty caused by technological disasters like cybersecurity attacks or industrial accidents. This suggests that the mechanisms through which AI contributes to resilience might be specific to the type of disruption and the industry context. Further research is needed to explore these nuances. Why This Matters: Insights for Managers and Policymakers Our research not only validates the technological value of AI, but more importantly, provides actionable insights for corporate management and public policy formulation. Firstly, it spotlights AI’s value in uncertain environments, specifically in the context of natural disasters. Secondly, we provide strong empirical evidence of AI-enabled resilience by using both financial market data and accounting-based measures of firm performance. These findings offer a comprehensive picture of how markets react and how firms perform when AI is in play during a crisis. Our work echoes tentative results from previous literature while offering new perspectives on corporate valuations and management practices. In an increasingly volatile world, understanding how technology can help businesses navigate uncertainty is paramount. Our study underscores that AI is not just a tool for efficiency; it can be a powerful enabler of resilience. For businesses, this means that strategic AI investments, coupled with thoughtful organisational design, can be a vital safeguard against unforeseen shocks. For policymakers and society, it emphasises the importance of fostering an environment where businesses can leverage advanced technologies to build a more resilient future. As AI continues to evolve, its role in helping us adapt and thrive in the face of adversity will only grow.
RkJQdWJsaXNoZXIy NzM0NzM2