Can the Intelligent Services Industry Continue the Growth Myth of the Information and Communication Industry

Since the 1980s, the global economy has shown a general trend of transition from an industrial economy to a service economy. The service industry has gradually become an important engine for world economic growth. The intelligent service industry has developed rapidly and has become an important industry to promote regional economic growth. This paper first adopts panel VAR (Vector Autoregression) and borrows the Feder two-sector model to study the diffusion and lag effects of smart technology on the smart service industry sector itself, the industrial sector, and the entire economic system. The research results confirm that China’s intelligentization and industrialization have formed a preliminary coupling interaction mechanism. Under the new normal, the intelligent service industry has become one of the emerging drivers of economic growth, and the diffusion effect of the intelligent service industry on economic growth will take 2-5 years. Since there is a two-way causal relationship between the smart service industry and the economic environment, the dynamic panel sys-GMM (System Generalized Moment Estimation) regression is used to investigate the lag effect of the factors affecting the development of China's smart service industry. It is proposed to adopt intellectual property protection and a common technical support system Improve the hysteresis effect.