Frugal AI and entrepreneurial decision-making in India
摘要
This study aims to understand the awareness and usage of Artificial Intelligence by entrepreneurs in strategic decision-making. It examines the challenges and limitations faced by business owners when incorporating artificial intelligence (AI) into their decision-making processes. It also examines entrepreneurs' present awareness and use of AI, emphasising the gap between early adopters who benefit from competitive advantages and those who are hampered by infrastructure and technology limitations.
MethodologySince the qualitative approach focuses on understanding viewpoints, experiences, and the subtle effects of artificial intelligence on decision-making, it was deemed appropriate for the study. Data were collected using semi-structured interviews, allowing flexibility while covering essential topics. Open coding was used to identify the main themes and examine the data to see how AI affects decisions, common issues, and potential benefits.
FindingsThe research focused on entrepreneurs' awareness of and use of AI in decision-making. The analysis resulted in seven overarching themes supported by eighteen subthemes and various codes and categories. The focus was on participants’ understanding with AI, the tools they use, and the challenges they face.
OriginalityIn order to strike a balance between ethical issues and technological growth, the study highlights the necessity of responsible AI integration in entrepreneurship. Based on knowledge management concepts, it presents a revolutionary framework that combines AI with human intuition and creativity.
Research implicationsThe study indicates the necessity of revising existing theoretical models to incorporate AI's role on broadening the decision-making scope, especially in resource-constrained settings such as India. The study adds to the body of research on human-AI collaboration by emphasizing how the combination of human creativity and AI-driven analytics is becoming more and more important for entrepreneurship success.