Impact of Artificial Intelligence on Development and Growth of Entrepreneurship
Pooja Meena, Ankita Chaturvedi, Sachin Gupta · 2022
“In changing global scenery, where digital technology is the centerpiece of every economy, the focus now should be on entrepreneurship.” The continuous uses of Artificial Intelligence (AI) in every field of life are the second wave of digital transformation. Companies around the world are taking advantage of the new capabilities that technologies such as machine learning can provide to optimize their current operations or create new business models. As a result of the proliferation of large amounts of data, there has been a tendency to leverage AI to process them cheaply, conduct open research, and raise funds on a large scale, a virtuous cycle that has only accelerated in recent years used to be. AI has already firmly penetrated in so many fields of our businesses, our professional, personal, and even our daily life. It has an amazing ability to modernize business activities, develop new ideas, products and services, and solve production problems to achieve large-scale entrepreneurial activities. Entrepreneurial activities were inspired in AI where knowledge is the main source of production to understand the whole scenario for better production and it is necessary to assess the entrepreneurial process from a new field. The aim and main objective of the paper is to discover the character of the knowledge and activity-based entrepreneurial process and its components. The outline and structure process includes the opportunity identification, opportunity development, growth, and opportunity exploitation. AI in the field of entrepreneurship is considered as one of the most essential force that determines the health of the economy of a country even for a tribal place too. This article aims to review the current scenario of entrepreneurship and AI system in tribal areas to propose an effective environment for integrating and promoting AI education awareness and knowledge as essential to mainstream business education for a developing country like India and for tribal areas, too.