AI-powered ventures: How digital competencies shape entrepreneurial success

In the dynamic realm of digital entrepreneurship, understanding how digital competencies shape entrepreneurial outcomes is vital, especially with the integration of artificial intelligence (AI). This study examines how digital competencies, as framed by the Theory of Planned Behavior (TPB) and Social Cognitive Theory (SCT), influence attitudes, subjective norms, digital entrepreneurial self-efficacy, intention, and behavior in the context of utilizing generative AI (BingGPT) for entrepreneurial activities. Utilizing structural equation modelling, data from 311 respondents in Portugal were analyzed. Findings reveal that digital entrepreneurial intention directly drives digital entrepreneurial behavior, with TPB Attitude and SCT Self-Efficacy as key influencers, the latter facilitating the transformation of intention into action. A novel discovery underscores that digital competencies significantly enhance digital entrepreneurial self-efficacy, boosting confidence in digital ventures. Subjective norms do not influence intention, indicating that AI adoption, such as BingGPT, is internally motivated. The study highlights the critical linkage between digital competencies and cognitive-behavioral factors in leveraging AI for entrepreneurship. It contributes to understanding how AI technologies impact attitudinal and cognitive aspects, fostering digital business ventures, and elucidates the sequential influence of digital competencies, TPB, and SCT on intention and behavior in the AI-BingGPT domain.