For my master thesis, i like to hear from the community on A.I application in business founding.
Do you think A.I will support strategy and decision making in business foundations ?
Where are big data collected, for running the dedicated A.I to advice startup founders in their development steps?
How this A.I can helps entrepreneurs/investors to assess risks of a startup project?
Opportunities or threats ? Saving Changes...
Depending on the data set which the specific AI tool was trained on, there might be significant benefit in providing decision support for whether a given idea is worth pursuing or not based on the success or failure of similar ideas. And if it has sufficient data on similar ideas, it should be able to provide specific risks related to those.
I'd also expect it might be capable of providing some distribution like data on potential cash inflows for similar businesses.
Kiron
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1 reply by Noble Hurst
Aug 11, 2023 1:41 PM
Noble Hurst
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I agree this is the best approach. Train AI on actual project data
Depending on the data set which the specific AI tool was trained on, there might be significant benefit in providing decision support for whether a given idea is worth pursuing or not based on the success or failure of similar ideas. And if it has sufficient data on similar ideas, it should be able to provide specific risks related to those.
I'd also expect it might be capable of providing some distribution like data on potential cash inflows for similar businesses.
Kiron
I agree this is the best approach. Train AI on actual project data Saving Changes...
AI has the potential to greatly support strategy and decision-making in business founding. It can provide valuable insights, automate processes, and assist entrepreneurs and investors in assessing risks and identifying opportunities or threats. Big data, which is collected from various sources such as customer interactions, social media, and market research, can be used to train AI models that can then be applied to advise startup founders.
By analyzing patterns and trends within the data, AI can help entrepreneurs make informed decisions about their development steps. For example, it can assist in identifying target markets, predicting demand, optimizing pricing strategies, and suggesting effective marketing approaches. AI-powered analytics can also help assess the potential risks associated with a startup project by analyzing historical and industry data, and by identifying potential pitfalls or challenges.
Furthermore, AI can automate the process of scanning and analyzing vast amounts of data, allowing entrepreneurs and investors to quickly identify potential threats or competitive challenges. By continuously monitoring market conditions, customer behavior, and industry trends, AI can provide real-time insights that enable proactive decision-making, minimizing risks and maximizing opportunities.
Overall, AI can be a valuable tool for startup founders and investors, providing them with data-driven insights and recommendations to support their strategy and decision-making processes, while also assessing risks and identifying potential opportunities or threats in the dynamic business landscape. Saving Changes...
