Research conducted by the University of East London has revealed that artificial intelligence (AI) is significantly altering how entrepreneurs think and adapt in business. The study indicates that entrepreneurs who actively engage with AI tools develop sharper strategic thinking and enhanced mental flexibility, allowing them to navigate risks and seize opportunities more effectively.
The findings suggest that rather than viewing AI solely as a mechanism for automation, it is fundamentally reshaping the entrepreneurial mindset. The study highlights that when entrepreneurs embrace AI, they are better equipped to reassess their plans and respond to unexpected challenges.
AI’s Role in Strategic Decision-Making
Dr. Jamiu Odugbesan, the study’s lead author, emphasized that the research demonstrates a shift in how entrepreneurs approach decision-making. “What we’re seeing is not AI replacing human thinking, but changing how people think,” stated Dr. Odugbesan. Entrepreneurs who work closely with AI begin to plan differently, showing greater comfort in revising their assumptions and weighing various options as circumstances evolve. This adaptability expands the scope of decision-making in entrepreneurial ventures.
The research team, which included Dr. Andrew Tafameland from the University of Benin and Dr. Dennis Akrawah of the LAPO Institute, analyzed a cluster of 376 entrepreneurs operating within Lagos’ Computer Village. This location is recognized as one of West Africa’s largest technology marketplaces, where numerous traders and developers engage with digital tools daily. The study revealed that entrepreneurs in this high-pressure environment demonstrated increased flexibility in addressing unexpected changes, particularly those with advanced knowledge of AI and digital technologies.
Broader Implications for AI Adoption
The research has significant implications for governments, investors, and educators regarding AI adoption strategies. The authors argue that training programs focused exclusively on technical skills or productivity improvements may overlook critical advantages in decision-making. Dr. Odugbesan noted, “In uncertain environments, success often depends less on having the perfect plan and more on being able to rethink it in the face of disruption.”
These findings contribute to an expanding body of evidence suggesting that AI’s influence extends beyond economic factors, affecting cognitive processes as well. By fostering confidence and enabling quicker, more informed decision-making, AI is reshaping how entrepreneurs reason and plan their business strategies.
The study, titled “AI and the entrepreneurial mindset: mapping cognitive adaptability in the age of technological disruption,” is published in the Journal of Entrepreneurship in Emerging Economies and underscores the transformative potential of AI in the entrepreneurial landscape.
As the business world continues to adapt to technological advancements, understanding and leveraging AI will be crucial for entrepreneurs seeking to thrive in an increasingly complex environment.
