THE ROLE OF GENERATIVE AI IN IMPROVING BUSINESS DECISION MAKING AMONG YOUNG ENTREPRENEURS: A CONCEPTUAL LITERATURE REVIEW
Keywords:
Generative Artificial Intelligence, young entrepreneurs, entrepreneurship, business decision-making, strategic management, artificial intelligence, innovation, human-AI collaborationAbstract
Background: Generative Artificial Intelligence (GenAI) has rapidly emerged as an important digital technology for entrepreneurship and business management. Unlike conventional information technologies that primarily automate predefined tasks, GenAI can generate text, summarize information, develop alternative ideas, organize knowledge, and provide decision-support suggestions through natural language interaction. These capabilities may be particularly valuable for young entrepreneurs who often have limited managerial experience, financial resources, professional networks, and access to specialized business advice.
Methods: This conceptual literature review synthesizes recent academic research on generative AI, entrepreneurship, strategic decision-making, information processing, and human-AI collaboration. The reviewed literature was analyzed thematically around information access, opportunity recognition, business idea generation, strategic planning, decision support, and responsible AI use.
Results: The literature indicates that GenAI can potentially improve entrepreneurial decision-making by reducing information-processing time, supporting idea generation, helping entrepreneurs explore business opportunities, and facilitating comparison of strategic alternatives. At the same time, its usefulness is constrained by inaccurate or fabricated information, algorithmic bias, privacy risks, limited contextual understanding, and the possibility of excessive dependence on AI-generated recommendations. Recent research also suggests that GenAI is particularly useful during exploratory and information-gathering stages, while complex entrepreneurial decisions continue to require human expertise and contextual judgment.
Conclusion: GenAI should be understood as a decision-support technology rather than a replacement for entrepreneurial judgment. Effective human-AI collaboration requires AI literacy, critical thinking, verification of important information, contextual knowledge, and clear human responsibility for final decisions. For young entrepreneurs, developing these capabilities may allow GenAI to function as an accessible complement to entrepreneurial knowledge and experience.
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