Abstract:
Entrepreneurship requires an actor’s capacity to respond to its environment by capturing or creating opportunities, becoming involved in the creation and innovation process, mobilizing resources as well as ensuring target fulfilment despite the risks and uncertainties involved.
Capacity refers to aspects such as knowledge and maximization work process through digital technology utilization. However, it also encompasses advanced thinking, creativity,
consistent action, and wisdom in determining a response for a multitude of possible
scenarios.
The emerging of the ‘digital economy’ that has been made possible by advancements in
information and communication technology (ICT) is discussed in conjunction with the idea of ‘human economy’; the latter term refers to an economic activity that focuses on human welfare.
The paper discusses the initiatives in encouraging entrepreneurship by assessing two
contrasting approaches: (1) Capacity-building through smart machine or artificial
intelligence via digitalization, and (2) Entrepreneurial character-building that cannot be
replaced by artificial intelligence. The conclusion of the paper reveals that these approaches are complementary to one another.
