WHU - Otto Beisheim School of Management
Generating Business Models with Generative AI
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Generating Business Models With Generative AI
It only takes a few seconds for LeanStartupAgent to demonstrate its potential for founders and identify possible innovation opportunities for today’s companies. The new AI-powered tool developed by Professor Dries Faems of WHU – Otto Beisheim School of Management has attracted the interest of start-ups and established companies alike, showcasing the many possibile use cases of generative artificial intelligence.
Vallendar, Germany. There are things today that a mere few months ago would have been almost unfathomable. In the blink of an eye, chatbots like ChatGPT and the artificial intelligence that powers them can provide answers to questions that would otherwise require time- and cost-intensive manual research. LeanStartupAgent, a new tool developed at the Chair of Entrepreneurship, Innovation and Technological Transformation at WHU, allows for the automation of tasks that are crucial to the creation of innovative business models and the founding of a company. The program is capable of identifying a business model’s innovative potential, as well as quickly executing a preliminary market analysis that is both comprehensive and easy to understand. All this has made LeanStartAgent an ideal tool for entrepreneurs, founders, and business developers.
By entering into LeanStartupAgent the tasks and target customer segment of a new or newly adapted business model, the tool will generate the following crucial sets of feedback for producing a more innovative and customer-focused result:
- critical pain point (i.e., the problem that the business model needs to address)
- value proposition (i.e., what the new business model can achieve and how it can overcome critical hurdles)
- a list and description of all elements that speak to the model’s value proposition
- an overview of the most prominent market competitors and their current offerings
- a list of noteworthy hypotheses that one should test in order to legitimize the target business model
LeanStartupAgent is a freely accessible open-source project available for download in a repository hosted on Github (DriesFaems/LearnStartUp-GPT-Agent). Currently, the project is considered a “minimum viable product” and still in its test phase. It is expected that LeanStartupAgent will be expandable, allowing for the system to be outfitted with numerous new features in the future.
On May 25, 2023, at 8:00 P.M. GMT+1, Professor Faems will hold a free online seminar via Zoom on how ChatGPT can be utilized for a wide variety of business cases such as customer exploration, negotiations and competitor analyses. Those interested can sign up https://whuedu.zoom.us/webinar/register/WN_Xt0KO8CuSdSoz0gM9SC6YQ#/registration.
Professor Dries Faems
Professor Dries Faems holds the Chair of Entrepreneurship, Innovation, and Technological Transformation at WHU – Otto Beisheim School of Management. He is an expert on the topic of collaboration for innovation. In his teaching and research, he focuses on various phenomena, including R&D alliances, collaboration for digital transformation, and innovation ecosystems. Professor Faems is also the coordinator for the WHU Innovation Ecosystem Hub, which aims to connect academics and practitioners in further exploring collaboration for innovation.
Parties interested in interviewing Professor Faems on LeanStartupAgent are encouraged to reach out to presse@whu.edu.
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Bernadette Wagener Associate Director Public Relations WHU – Otto Beisheim School of Management Campus Vallendar, Burgplatz 2, 56179 Vallendar, Germany Tel.: +49 261 6509-540; presse@whu.edu; www.whu.edu WHU – Otto Beisheim School of Management is the Business School of the WHU Foundation.