人工智能赋能耐心资本:现实价值和路径探索  

Artificial Intelligence Empowers Patient Capital:Practical Value and Path Exploration

作　　者：肖凯元 Xiao Kaiyuan

机构地区：[1]北京大学马克思主义学院

出　　处：《经济学家》2025年第3期56-66,共11页Economist

基　　金：国家社会科学基金重点项目“中国特色社会主义市场经济制度问题研究”(20AZD012)。

摘　　要：耐心资本是支持新质生产力发展、培育战略性新兴产业的重要先进生产要素。既往耐心资本发展中存在项目长期盈利能力难以预测的问题,加之长期投资无法有效利用市场中的周期性机会,资产管理者也常常出现非理性行为,构成了耐心资本发展中的障碍。智能金融时代金融业中人工智能方法广泛应用,为耐心资本培育带来新的机遇。人工智能技术通过提升投资配置效率、增强风险管理能力、改善实体企业生产运营状况等为这些技术性难题的破解提供了有效方案,给耐心资本的培育和新质生产力的发展带来新的机遇。进一步发挥人工智能对耐心资本的赋能作用,需要建立加快数据公共基础设施建设、加大政府投资基金导向作用、加强智能金融伦理风险监管等一系列政策保障。Patient capital is an important advanced production factor that supports the development of new quality productive forces and the cultivation of strategic emerging industries.In the past,the problem of unpredictable long-term profitability of projects in the development of patient capital,coupled with the inability to effectively utilize cyclical opportunities in the market for long-term investment,and the irrational behavior of asset managers,became obstacles in the development of patient capital.The widespread application of artificial intelligence(AI) in the financial industry in the smart finance era brings new opportunities in the cultivation of patient capital.AI provides effective solutions to these technical problems by enhancing investment allocation efficiency,strengthening risk management capabilities,and improving the production and operation of real enterprises,bringing new opportunities for the cultivation of patient capital and the development of new quality productive forces.Further exerting the role of AI on empowering patient capital requires the establishment of a series of policy guarantees such as accelerating the construction of public infrastructure for data,increasing the guiding role of government investment funds,and strengthening the regulation of ethical risks in smart finance.

关 键 词：耐心资本 人工智能 智能金融时代 计算金融 新质生产力 

分 类 号：F832[经济管理—金融学]