Enhancing the Competitiveness of AI Technology-Based Startups in the Digital Era

Abstract

Artificial Intelligence (AI) startups possess four key attributes; being small enterprises, adopting AI technology, undergoing digital transformation, and using big data systems to enhance their competitiveness. This study aims to identify the key influencing factors needed to enhance the competitiveness of AI technology-based startups and to suggest a decision-making model to improve the technology and business competitiveness of AI startups in the digital era. To achieve this, the hierarchy concept framework was built with four evaluation areas based on the mechanism-based view theory, and the 16 evaluation factors that can influence were identified through existing literature, combining factors related to the digital transformation, technological application, and business competitiveness of the startups. These factors were analyzed using the Analytic Hierarchy Process (AHP) by the survey, targeting experts in South Korea. The analysis results indicate that the subject area was the most crucial for the business competitiveness of AI startups. It was also revealed that the subject’s strategic mind is the most significant factor to AI startups’ success. In the case of two control groups, categorized as ‘AI experts’ and ‘startup experts’, AI experts chose the subject as the most important area, whereas startup experts selected the environment, and significant differences were observed in all other factors. The results of this study will provide implications for strengthening the business competitiveness of AI startups and factors important for the growth of AI startups in this era.

Enhancing 5G Antenna Manufacturing Efficiency and Reliability through Blockchain and Smart Contract Integration: A Comprehensive AHP Analysis

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Overcoming Uncertainty in Novel Technologies: The Role of Venture Capital Syndication Networks in Artificial Intelligence (AI) Startup Investments in Korea and Japan

“…Venture Capitalists (VCs) serve as crucial financial intermediaries, tasked with the diligent evaluation of startups to identify and channel funds towards the most promising ventures [50]. Central to this evaluation is a thorough examination encompassing the startup's technological innovation, the competency of the founding team, the distinctiveness of the value proposition and business model, an analysis of the market environment, and the prevailing regulatory framework, among other factors that are indicative of potential success [11][12][13][14][15][16][17]. The nature of startups often embeds them with inherent uncertainties, necessitating a significant volume of information for an accurate assessment [5,6].…”

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