EXPLORING THE TRANSFORMATIVE INFLUENCE OF ARTIFICIAL INTELLIGENCE IN BUSINESS: DISCOVERING AI'S CAPABILITIES IN AIDING THE PERFORMANCE OF BUSINESS EDUCATION AND ENTREPRENEURSHIP PRACTICES

Abstract

The evolution of Artificial Intelligence (AI) has positively impacted on the socio- economic, political and social space of our dynamic society as its pronounced presence is seen in education, entrepreneurship and technology which are primal to the socio-economic expensiveness of our society. The thrust of this paper thus is to x-ray the transformative influence of AI in aiding the performance of Business Education and Entrepreneurship practice. The paper has underscored the transformative influence of Artificial Intelligence in Business Education to include career guidance, intelligence tutoring system, enhanced accessibility, automated grading and personalized learning; while its salient influences in Entrepreneurship Practice include, market research, predictive analytics, automation and efficiency, idea generation, chatbots and virtual assistants. The paper further uncovered the key aspects of Entrepreneurship Practice to include: Idea Generation; Feasibility Analysis; Business planning; Start-up; Growth and Scaling; Innovation and Risk-taking; Leadership and Team Building; Networking and Partnerships; Adaptability and Resilience; and Continuous Learning. The paper concluded that there is need for a balanced approach that will integrate AI both in Business Education and Entrepreneurship Practice, in order to initiate an effective performance that will ensure further sustenance and advancement. Consequently, the paper recommend some strategies necessary for a balanced approach in integrating both Business Education and Entrepreneurship Practices with Artificial Intelligence to include: Embedding AI literacy within business education especially educational curricula, Initiating data analytics, and digital transformation principles; Practical exposure through case studies, simulations, and internships with AI-driven startups; Collaboration between academia and industry which will enable this balanced approach; Promoting a culture of continuous learning; and Ethical considerations and responsible AI use, among others.