IDEAS home Printed from https://ideas.repec.org/a/zna/indecs/v22y2024i6p656-665.html
   My bibliography  Save this article

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

Author

Listed:
  • Mladen Rajko

    (University of Zadar, Department of Economics, Zadar, Croatia)

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.

Suggested Citation

  • Mladen Rajko, 2024. "The Use of Artificial Intelligence by Young Entrepreneurs in the Republic of Croatia," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 22(6), pages 656-665.
  • Handle: RePEc:zna:indecs:v:22:y:2024:i:6:p:656-665
    as

    Download full text from publisher

    File URL: https://www.indecs.eu/2024/indecs2024-pp656-665.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    artificial Intelligence; AI; young entrepreneurs; AI tools; Croatia;
    All these keywords.

    JEL classification:

    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zna:indecs:v:22:y:2024:i:6:p:656-665. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Josip Stepanic (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.