Abstract: Data-intelligence transformation is a core driving force for the sustained economic growth in the new era. The existing literature has discussed the mechanisms of how data factor or intelligent technology affect economic growth respectively, but ignored the key role of data factor in promoting the progress of intelligent technology. Based on this, this paper integrates the utilization of data factors and the progress of intelligent technology into the endogenous growth model framework to explore their joint impact on economic growth. It is found that data factor utilization can promote sustained economic growth by promoting the progress of intelligent technology. Further analysis shows that the model economy has two “restricting effects” and a “growth trap”. The promoting effect of data factor utilization on long-term economic growth is restricted by consumers’ aversion to privacy infringement. The contribution of intelligent technology progress to long-term economic growth is restricted by population growth. The difference in the sequence of digitalized transition may lead to diverged long-term economic growth rate, and the economy with a late transition may fall into a growth trap where the growth rate is continuously lower than that of the economy with an early transition. This study not only provides a theoretical reference for understanding the macro growth mechanism in the era of digital economy, but also provides a theoretical explanation for the fierce competition among major economies in the technological and industrial fields such as big data and artificial intelligence.

Key words: data factor, artificial intelligence, endogenous growth, growth trap, data-intelligence transformation