The Impact of Artificial Intelligence for Advancement in Entrepreneurial Education

The changing technology has advanced into new advents like Artificial Intelligence. This technology has diffused into the classrooms through chatbots like ChatGPT, Claude, Google Bard, YouChat, KoalaChat, ChatOn, Microsoft Binge and many others. The conventional softwares are only updated by humans while Artificial Intelligence can correct and remodel itself. Artificial Intelligence is assisting the entrepreneurial organizations and students in data analysis, automation and Natural Language Processing (NLP). It also helps the entrepreneurial organizations in strategic decision making and managing operations and accounts. This research focuses on the opportunities and challenges posed by Artificial Intelligence in the entrepreneurial education across various business schools. It examines the benefits of chatbots for educational purposes. It also studies the limitations of chatbots. It enquires about the business advice sought from chatbots. For this purpose, a survey was applied amongst students of entrepreneurial courses to analyze the impact of Artificial Intelligence in our classrooms. It is a study performed on 103 students enrolled in entrepreneurship courses at two management institutes of India between August, 2023, and December, 2023. The study focuses on the benefits of AI in areas such as assisting in classroom activities like such as market research, competitor analysis and legal aspects. It also aids the students in getting feedback for their assignments, preparing for examinations and rapid access to information. The research suggests that Artificial Intelligence is significantly contributing right from idea generation, planning, forecasting and progress evaluation of business plans to entrepreneurial students. It is extensively helping the entrepreneurial students in developing the business model canvas which assists them in designing the blueprint of the project, strategic management, and development of innovative business models. It also assists in improving the productivity and efficiency of students. This research would facilitate students, teachers and business schools imparting entrepreneurial curriculum inculcate Artificial Intelligence into the classroom studies.