The Use of Artificial Intelligence by Young Entrepreneurs in the Republic of Croatia

Mladen Rajko ()
Additional contact information
Mladen Rajko: University of Zadar, Department of Economics, Zadar, Croatia

Interdisciplinary Description of Complex Systems - scientific journal, 2024, vol. 22, issue 6, 656-665

Abstract: This article examines the growing significance of artificial intelligence (AI) in the entrepreneurial ventures of young entrepreneurs in the Republic of Croatia. Through surveys and interviews with young entrepreneurs from various economic sectors, the study identifies the most frequently used AI tools and assesses their impact on business success. The findings indicate that while AI has the potential to revolutionize business processes, enhance decision-making, and improve efficiency, its adoption among young entrepreneurs is still inconsistent. Many entrepreneurs hesitate to fully integrate AI due to challenges such as high costs, lack of technical expertise, and ethical concerns. Despite these barriers, those who do use AI often apply it to tasks like content creation, social media management, and financial reporting, highlighting AI’s ability to streamline operations. However, the current level of AI adoption among young entrepreneurs remains insufficient to drive a major shift toward digital entrepreneurship. To fully unlock AI’s potential, the article suggests that targeted educational initiatives and resources tailored to young entrepreneurs are crucial. These efforts could bridge the knowledge gap and reduce perceived risks associated with AI. The article concludes by emphasizing that while AI offers significant opportunities for enhancing business capabilities, overcoming existing obstacles is essential. By addressing these challenges and fostering a supportive environment, there is substantial potential to drive innovation and success in the entrepreneurial sector. Future research should continue to explore AI adoption dynamics and broader implications, ensuring that young entrepreneurs are prepared to thrive in an increasingly digital world.

Keywords: artificial Intelligence; AI; young entrepreneurs; AI tools; Croatia (search for similar items in EconPapers)
JEL-codes: L86 O31 (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.indecs.eu/2024/indecs2024-pp656-665.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:zna:indecs:v:22:y:2024:i:6:p:656-665

Access Statistics for this article

More articles in Interdisciplinary Description of Complex Systems - scientific journal from Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu
Bibliographic data for series maintained by Josip Stepanic ().