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Large Language Models (LLMs) have emerged as powerful tools in the domain of artificial intelligence, specifically enhancing natural language processing capabilities. These models leverage extensive datasets and sophisticated algorithms to automate and enhance tasks traditionally performed by humans, thereby revolutionizing innovation and entrepreneurship. LLMs accelerate product development, streamline business operations, and enable precise and rapid decision-making, all of which are crucial for maintaining competitiveness in dynamic markets. This paper categorizes the applications of LLMs in innovation and entrepreneurship into three main areas: technological innovation, strategic decision-making, and process automation. By exploring various integrations of LLMs in entrepreneurial ventures, this work offers both theoretical insights and practical examples, underscoring the transformative impact of LLMs in shaping modern business landscapes.
Li et al. (Sat,) studied this question.