Abstract
Entrepreneurship is going through a major shift, thanks to the rise of Artificial Intelligence (AI) and automation technologies. These advancements are changing the way businesses operate, how they interact with customers, and how they create value. With these tools at their disposal, entrepreneurs can streamline various parts of their businesses, from automating everyday tasks to using in-depth data analytics for smarter decision-making. Automation boosts efficiency, cuts costs, and ensures consistent service delivery, while AI helps create personalized customer experiences and offers predictive insights, allowing entrepreneurs to stay ahead of the curve. Moreover, AI and automation are paving the way for fresh business models. For example, AI-powered platforms enable companies to grow quickly with minimal human input, using machine learning and data mining to constantly enhance their products and services. Now, startups and small businesses can access advanced tools that were once only available to big corporations, creating a more level playing field and igniting entrepreneurial spirit. On the flip side, the rise of AI and automation brings its own set of challenges. One major concern is the potential job loss due to automation, especially in sectors where tasks are repetitive and easily handled by machines. This shift has wider social and economic effects, prompting the need for new strategies in workforce development, retraining, and labor redistribution. Additionally, ethical dilemmas related to AI, such as privacy issues, algorithmic bias, and accountability, are becoming crucial topics for entrepreneurs to navigate Entrepreneurs face the challenge of harnessing the incredible potential of AI and automation while also being mindful of their impact on society. Launching an AI-driven business goes beyond just having technical know-how; it also demands a solid grasp of ethical principles and governance frameworks to ensure these technologies are used in a responsible manner. Additionally, entrepreneurs need to take the initiative in tackling important issues like transparency, equity, and sustainability as they grow their businesses.
Keywords
Entrepreneurship, Artificial Intelligence (AI), Automation, Business Innovation, Business Models, Operational Efficiency, Machine Learning, Data Analytics, Predictive Analytics, Scalability, Cost Reduction, Personalized Customer Experience, Market Disruption, Workforce Displacement, Labor Dynamics
Citations
IRE Journals:
Adnan Ghaffar
"Entrepreneurship AI Automation" Iconic Research And Engineering Journals Volume 7 Issue 10 2024 Page 531-542
IEEE:
Adnan Ghaffar
"Entrepreneurship AI Automation" Iconic Research And Engineering Journals, 7(10)
About IRE Journals
IRE Journals is an open access online journals established with an aim to publish high quality of research work in various diciplines. We have more than 6 years in publications. Over 2500+ papers already published.
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