Analysis of the impact of technological advancements on entrepreneurship: A focus on challenges and opportunities

Abstract

Continuous advancement in technology has created a crisis of uncertainty for some entrepreneurs, particularly in relation to the histories around digital technology and Artificial Intelligence (AI). Entrepreneurship and digital technology are both relatively young disciplines, which presents both challenges and opportunities in both fields. The influence of technological advancement on entrepreneurship has further influenced various aspects of business operations, innovation and overall entrepreneurial landscape. By using desktop research approach and employing document analysis, the paper found that financial service technology and digital literacy to be the most technological advancements influencing entrepreneurship. In exploring opportunities created, digital marketing, remote work and education technology were noted to provide more opportunities and room for expansion while challenges underscore were limited infrastructure, financial limitations and lack of skills.