Why AI may be the next great entrepreneur
AI may wield enough knowledge to be able to launch and grow a viable business.
The next generation of artificial intelligence platforms may have the capability to engage in entrepreneurship without human assistance.
David Schonthal, Clinical Professor of Strategy and Director of Entrepreneurship Programs at Kellogg, believes AI may wield enough knowledge to be able to launch and grow a viable business.
Why am I so confident about this possibility? Because entrepreneurship, at its core, is algorithmic, based on the underlying sequence of sense-act-learn: it's about sensing or identifying patterns in terms of meaningful, addressable gaps in consumer needs, acting by iteratively creating and testing solutions to fill those gaps, taking the product or service that emerges from that process to market, and learning at each step to revisit and refine the offering.
The core of Schonthal's research shows that AI-based technologies are better at performing algorithms than humans, and can even do so without bias.