The Impact of Natural Language Processing Technology on Enterprise New-Quality Productive Forces

Natural language processing (NLP) technology is increasingly integrated into corporations, with important implications for enterprise productivity. Using Chinese A-share listed companies from 2015 to 2023, this study constructs an index of NLP technology adoption based on the annual report MD&A sections and examines its impact on enterprise new-quality productive forces and the underlying mechanisms. The results show that NLP technology significantly enhances enterprise new-quality productive forces. Mechanism tests indicate that NLP technology enhances new-quality productive forces by increasing innovation investment, reducing operating expense ratios, and improving the development and utilization of data as a factor of production.