Navigating the new frontier: the impact of artificial intelligence on students' entrepreneurial competencies

Artificial intelligence (AI) technologies have led to significant transformations across industries and society, including the field of education. The integration of AI in educational settings has the potential to improve students’ learning experience and support their individual competencies when paired with non-AI methods. Despite the growing importance of AI in modern education, there remains a noticeable research gap regarding its use in entrepreneurship education and the effects of Chatbots on students’ entrepreneurial competencies. To address this gap, an exploratory study was conducted on undergraduate students who were tasked with using ChatGPT to improve their business model canvas.

The chosen methodology aligned with the research purpose, aiming to explore the relationship between Generative AI and competencies. Due to the novel nature of the research problem, an exploratory study was conducted using a mixed methods approach. A survey with open- and closed-ended questions was designed, and statistical and text analyses were performed to interpret data and test identified propositions.

The findings of this study indicate that ChatGPT can enhance the types of students’ entrepreneurial competencies considered in this study: spotting opportunities, creativity, vision, valuing ideas and ethical and sustainable thinking. The results show that ChatGPT can be particularly helpful to improve the ability of students of valuing ideas.

Overall, this study highlights the potential of adopting ChatGPT in experiential learning methodologies for enhancing students’ entrepreneurial competencies and improving their learning outcomes.