ChatGPT as a digital assistant for startup entrepreneurs: Challenges, Opportunities and Perception

This study explored the potential of ChatGPT, an AI-powered tool, as a digital assistant for startup entrepreneurs. The research objectives were to understand how well ChatGPT can provide academic advice to startup entrepreneurs and to educate respondents about its benefits. The study found that participants generally perceived ChatGPT positively, recognizing its utility in various contexts such as project development, learning, and daily tasks. Participants also highlighted several limitations, including the quality of responses being dependent on the quality of prompts, and concerns about over-dependency on the tool. The study also revealed a nuanced understanding among participants about when to seek advice from ChatGPT versus a human advisor, suggesting that the use of AI tools is context-dependent and complements rather than replaces human expertise. The findings underscore the relevance of bounded rationality in understanding the use of AI tools and the effectiveness of the Lean Startup methodology in prompting ChatGPT.