Artificial intelligence (AI)-driven automation is of growing interest in the service sector. Using practice theory in service innovation and recombinant uncertainty frameworks, we ask whether AI patent approval for service firms is received positively by the stock market and whether patent radicalness strengthens or exacerbates the stock market reaction. We draw on 650 service industry firms from the years 1976 to 2019 with 133,813 non-AI patents and AI patents, including 7,543 (AI machine learning), 33,804 (AI hardware), and 53,419 (AI planning/control). The results show that the stock market reaction is positive for machine learning AI patents, and increasing radicalness strengthens the positive relationship; however, the reaction is negative to AI-related planning and control patents and increasing radicalness exacerbates the negative reaction. In addition, stock market reaction is insignificant to AI-related hardware patents and increasing radicalness does not influence this relationship. The findings are robust to excluding large firms representing a significant portion of the AI patents. With increasing radicalness, the stock market reaction to machine learning patents is more positive for low temporal depth and exacerbates with higher patent pedigree. The findings have implications for AI patenting among firms in the service sector.

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服务公司的人工智能专利批准、专利激进性和股市反应

人工智能 (AI) 驱动的自动化越来越受到服务行业的关注。利用服务创新和重组不确定性框架中的实践理论，我们询问服务公司的人工智能专利批准是否受到股票市场的积极接受，以及专利激进性是否会加强或加剧股票市场的反应。我们借鉴了 1976 年至 2019 年 650 家服务业企业的数据，拥有 133,813 项非人工智能专利和人工智能专利，其中 7,543 项（人工智能机器学习）、33,804 项（人工智能硬件）和 53,419 项（人工智能规划/控制）。结果表明，股市对机器学习人工智能专利的反应是积极的，并且激进性的增加强化了这种正向关系；然而，人们对人工智能相关的规划和控制专利的反应是负面的，而日益激进的态度加剧了负面反应。此外，股市对人工智能相关硬件专利的反应并不显着，激进程度的增加也不会影响这种关系。该研究结果有力地排除了占人工智能专利很大一部分的大公司。随着激进程度的增加，股市对机器学习专利的反应对于时间深度较低的情况更为积极，而随着专利谱系的提高，股市的反应也会加剧。研究结果对服务业企业的人工智能专利申请具有影响。