Cai Fang, a distinguished member of the Academic Division at the Chinese Academy of Social Sciences, articulated at the Taihu World Cultural Forum·Qiantang Dialogue that artificial intelligence embodies the concept of 'creative destruction.' This phenomenon entails a concurrent surge in productivity and labor substitution, which has the potential to stifle overall productivity gains. To counterbalance this, industrial policies aimed at advancing the research, development, and deployment of AI should incorporate robust measures to ensure equilibrium and bridge technological gaps. He underscored that the trajectory of AI technology is steered by market demand, and China's edge in AI advancement stems from its expansive market and diverse array of application contexts, highlighting the imperative for a seamless integration with China's unique requirements. Furthermore, he proposed leveraging institutional advancements to strike a balance between AI's disruptive and innovative facets, employing AI to construct an inclusive social security system, generate novel employment opportunities, elevate the caliber of jobs, and reduce income inequalities.