Artificial intelligence in entrepreneurship

Project summary

The PhD project aims to delve into the transformative potential of AI in reshaping how entrepreneurs craft strategies. It seeks to evaluate the implications of AI applications in entrepreneurship to offer a comprehensive framework that entrepreneurs can adopt to harness the power of AI, thereby driving innovation and competitive advantage.

Project outline

The advent of Artificial Intelligence (AI) is proving to be a game-changer across various industries and fields of research. Entrepreneurship is no exception. AI offers a range of opportunities to fundamentally transform how entrepreneurs approach challenges, solve problems, and make decisions. From automating routine tasks to providing data-driven insights and improving customer experiences, AI technologies are increasingly becoming invaluable tools for entrepreneurs.

Potential aspects:

1) AI and decision-making: One of the most significant impacts of AI in entrepreneurship is decision-making. Traditional entrepreneurial decisions rely on gut feeling, personal experience, or manually analyzed data. AI technologies like machine learning and predictive analytics can help entrepreneurs make more informed decisions by analyzing vast amounts of data at unprecedented speeds. These tools can offer insights into customer behaviour, market trends, and risk factors, providing a more robust foundation for business strategy and operations choices.

2) AI and operational efficiency: Entrepreneurs must often operate under resource constraints. AI can help optimize resource allocation, supply chain management, and operational efficiencies by predicting demand, automating repetitive tasks, and even identifying bottlenecks or inefficiencies in existing processes.

3) Risk management: Entrepreneurial ventures are inherently risky. However, AI can help mitigate some of these risks by providing predictive models based on economic indicators, market data, and global events. This allows entrepreneurs to make contingency plans and adapt their strategies proactively.

Overarching aim and objective of the PhD Project:

This PhD project aims to comprehensively investigate the transformative potential and practical implications of AI in entrepreneurship. By focusing on critical areas such as risk management, market analysis, strategic planning, and ethical considerations, the project aims to develop an integrated framework that can guide entrepreneurs. This framework will help them leverage AI technologies to optimize their decision-making processes, fostering innovation, increasing operational efficiency, and gaining competitive advantages in rapidly evolving markets.

Name of potential Director of Studies

Dr Md Imtiaz Mostafiz is a Reader in International Business and Entrepreneurship at Greater Manchester Business School, University of Bolton. His research interests and knowledge lie at the nexus of international entrepreneurship and strategy and include entrepreneurial orientation, dynamic capability, ambidextrous and open innovation, micro-foundation of dynamic managerial capability, family firms internationalization, accelerated internationalization, and strategic decision-making and knowledge management. He is a quantitative researcher focusing on structural equation modelling, PLS-SEM, deep-learning artificial intelligence analysis, configurational theorizing (fsQCA) and necessary condition analysis of QCA. He published in the British Journal of Management, Journal of Business Research, International Marketing Review, Multinational Business Review, European Journal of International Management, Strategic Change, International Journal of Entrepreneurial Behaviour & Research, etc. He sits on the Editorial Review Board of Entrepreneurship Research Journal as an Associate Editor and sits on the Editorial Review Board of the International Journal of Entrepreneurial Behavior & Research, International Marketing Review and Business Strategy and Development Journal of Entrepreneurship in Emerging Economy, etc. He supervised 2 PhDs and 1 DBA to successful completion. He also examined doctoral theses externally.

1.    GMBS research strategy themes: Centre for Global Business and Enterprise

The proposed research on "Artificial Intelligence in Entrepreneurship" directly aligns with the Centre for Global Business and Enterprise's overarching strategy to investigate the impact of emerging technologies on business practices. This project will add a focused lens on entrepreneurship, a critical engine for economic development and innovation. Given the Centre's multidisciplinary approach to understanding global business dynamics, this PhD project will provide a nuanced understanding of how AI can influence micro (entrepreneurial) decision-making, which has macro (global) implications. 

2.    Contribution to the research environment in your department and how this doctorate will strengthen the overall research culture of GMBS. 

The project will contribute substantially to GMBS’s research environment by pioneering a topic that merges technology and entrepreneurship, two areas that are becoming increasingly interconnected. The project will open up opportunities for interdisciplinary collaboration within the department and across different research units within GMBS. By bringing this multifaceted perspective, the project will encourage a more integrative approach to business studies, enriching the Centre's research portfolio and providing fresh insights into the practical applications of AI in global business and entrepreneurship.

The project will also deliver high-quality publications and offers an excellent opportunity for generating impact case studies, which could document how the research has influenced real-world business practices or even broader economic development to make significant contributions to multiple facets of the REF 2028 strategies, thereby enhancing the institution's standing in research excellence, impact, and collaboration.