The Role of Artificial Intelligence (AI) in Identifying Entrepreneurial Opportunities

Yash Bansal; Yash parakh; Yash Jain; Harsh Lakhani; Dr. Kanchan Thakur

The Role of Artificial Intelligence (AI) in Identifying Entrepreneurial Opportunities

Authors: Yash Bansal, Yash parakh, Yash Jain, Harsh Lakhani, Dr. Kanchan Thakur

Unique Paper ID: 174099
Volume: 11
Issue: 10
PageNo: 2779-2784

Keywords: Artificial Intelligence Entrepreneurship Opportunity Recognition Market Analysis start-up.

Abstract:
Artificial Intelligence (AI) is transforming the entrepreneurial landscape by improving decision-making, automating processes, and identifying new opportunities. This study investigates the role of AI in identifying entrepreneurial opportunities through data-driven insights, predictive analytics, and market trend analysis. AI-powered tools such as machine learning algorithms, natural language processing, and big data analytics help entrepreneurs identify market gaps, predict consumer preferences, and assess business feasibility more accurately. Research shows that AI-driven opportunity recognition outperforms traditional methods by reducing uncertainty and providing real-time intelligence. This domain's AI applications include sentiment analysis for consumer behavior, social media analytics for trend detection, and AI-powered recommendation systems for business innovation. Furthermore, AI-powered market research enables entrepreneurs to identify emerging industries and untapped segments, resulting in more strategic decision-making. However, AI-driven opportunity identification presents a number of challenges, including data biases, ethical concerns, and the need for human intuition. While AI improves efficiency, assessing AI-generated insights still requires entrepreneurial creativity and critical thinking skills. The purpose of this research is to examine both the advantages and disadvantages of artificial intelligence in opportunity recognition, in order to provide a balanced assessment of its impact. AI can help startups and businesses gain a competitive advantage, optimize resource allocation, and improve market positioning. The study's findings help to better understand AI's transformative potential in entrepreneurship and provide recommendations for effectively leveraging AI-driven insights. This study emphasizes AI's critical role in shaping the future of entrepreneurship, demonstrating its ability to open up new opportunities and drive innovation in an increasingly competitive business landscape.

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Cite This Article

ISSN: 2349-6002
Volume: 11
Issue: 10
PageNo: 2779-2784

The Role of Artificial Intelligence (AI) in Identifying Entrepreneurial Opportunities

Available:https://ijirt.org/Article?manuscript=174099

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