Challenges of Using Generative AI in Entrepreneurship

Abstract

Generative Artificial Intelligence (GenAI) is becoming a powerful tool in modern entrepreneurship, providing new opportunities for automation, personalization, and the creation of innovative products and services. Through emerging technologies such as language models, image and audio generation systems, entrepreneurs can significantly accelerate their workflows and reduce costs. However, the implementation of GenAI is associated with a number of significant challenges. The technological barriers include high requirements for computing resources, complexity in integration, and the need for specialized knowledge. The lack of trained personnel and resistance to technological changes are another obstacle in its sustainable implementation. From a business perspective, the unpredictability of the GenAI results and the lack of trust among users can slow down the growth. The emerging global legal regulations impose additional responsibilities on the entrepreneurs. The aim of this conceptual paper is to analyze these multi-layered challenges and offer guidelines for the responsible and effective use of GenAI in entrepreneurship. A framework for using GenAI in entrepreneurship is proposed too.