Large language models as a catalyst for opportunity recognition capability

Purpose This study examines whether large language models (LLMs), such as ChatGPT, can enhance individuals' opportunity recognition (OR) capabilities and whether their impact varies across different user groups. Design/methodology/approach An experimental study was conducted with 63 participants from diverse educational backgrounds in Germany. Participants were divided into an experimental and a control group and tasked with identifying business opportunities. The experimental group used LLMs, while the control group completed tasks without artificial intelligence support. OR capability was assessed by expert evaluation of identified opportunities. Findings LLMs significantly enhanced OR capability, with greater benefits observed among participants with initially lower OR capabilities. However, proficiency in LLM utilization showed no significant improvement in outcomes. Practical implications The findings suggest that incorporating LLMs into entrepreneurial education and training programs could significantly enhance participants' ability to recognize and develop business opportunities, particularly for those with initially lower OR capabilities. Originality/value This study provides the first empirical evidence on the role of LLMs in the entrepreneurial OR process, highlighting their potential to democratize entrepreneurship by supporting individuals with varying skill levels.