AI in Assessment Example: Level 5

Innovative Business Model (Entrepreneurship, 300-level)

At this level “AI Exploration” of the five-level AI Assessment Scale (Perkins, et al., 2024) Al is used creatively to enhance problem-solving, generate novel insights, or develop innovative solutions to solve problems. In more advanced courses, students and educators may also choose co-design assessments to explore unique Al applications within the field of study.

Course: ENTR 300 – Entrepreneurship and Innovation

Assignment Title: Developing an Innovative Business Model for an Emerging Market Using AI

Due Date: [Insert Due Date]

Assignment Overview:
In this assignment, you will develop a disruptive business model tailored to an emerging market by leveraging AI tools. AI will assist you in analyzing market data, generating innovative ideas, and modeling potential business scenarios. The objective is to use AI to identify untapped markets and innovative strategies, allowing you to refine and enhance your business model. This assignment challenges you to critically engage with AI-generated insights and incorporate them into a robust and forward-thinking business proposal.

Objectives:

To develop a disruptive business model for an emerging market using AI-driven insights.
To use AI tools to analyze market trends, predict future opportunities, and model potential business scenarios.
To critically reflect on how AI influenced your approach to developing an innovative business model.

Instructions:

Market Analysis and Data Gathering:
- Use AI tools to analyze current market data and identify emerging trends in your chosen industry. AI can help process large datasets to uncover patterns, consumer behavior, and potential gaps in the market.
- Explore various emerging markets and select one that shows significant growth potential or presents unique opportunities for disruption.
Idea Generation and Scenario Modeling:
- Utilize AI to generate innovative business ideas based on the market analysis. AI can assist in brainstorming potential products, services, or business processes that could meet the needs of the chosen market.
- Develop and model various business scenarios using AI tools, considering different market conditions, competition, and potential barriers to entry. AI-generated scenarios can help you anticipate challenges and refine your business model accordingly.
Business Model Development:
- Based on AI-generated insights, develop a comprehensive business model for the chosen emerging market. Your model should include:
  - Value Proposition: A clear statement of the unique value your business will provide to customers in the emerging market.
  - Market Segmentation: An analysis of the target demographics and market segments that your business will focus on.
  - Revenue Streams: A detailed plan for how your business will generate revenue, including pricing strategies, sales channels, and revenue models.
  - Operational Plan: A plan for how the business will operate, including key partnerships, supply chain management, and logistics.
  - Financial Projections: AI-assisted financial forecasts that include projected revenue, costs, and profitability over the first few years of operation.
Reflection and Documentation:
- Document your use of AI throughout the project by keeping a log of how AI tools contributed to the development of your business model. This log should include the specific AI tools used, the tasks they assisted with, and any insights they provided.
- Write a reflection (2-3 pages) on how AI-driven insights shaped your innovative approach. Discuss how AI influenced your decisions, the benefits and limitations of using AI in this context, and any challenges you encountered in integrating AI-generated ideas into your business model.
Final Submission:
- Submit your final business model proposal (15-20 pages), including all key components listed above, along with the AI documentation and reflection.
- Ensure that your proposal is well-organized, clearly written, and professionally presented, demonstrating both the innovative potential of your business model and your critical engagement with AI tools.

Evaluation Criteria:

– Innovativeness and Viability of the Business Model (35%): Demonstrating a high level of creativity and strategic thinking in developing a disruptive business model that is both innovative and viable in the chosen emerging market.

– Integration of AI Tools (25%): Effectively using AI to analyze market trends, generate ideas, and model business scenarios. The documentation should reflect thoughtful engagement with AI tools and a critical assessment of their contributions.

– Comprehensive and Clear Proposal (25%): Presenting a well-organized and detailed business model that covers all required components, with clear and compelling arguments supporting its viability.

– Reflection on AI Use (10%): Providing insightful and critical reflections on the role of AI in shaping the business model, including an analysis of the challenges and opportunities presented by AI-driven insights.

– Writing and Presentation Quality (5%): Producing a professionally written and well-presented proposal, with attention to clarity, formatting, and adherence to academic standards.

Support Resources:

– AI Tools and Software: Access to AI tools such as [specify tools, e.g., IBM Watson, Google Cloud AI, Tableau] will be provided through the university’s entrepreneurship lab. Training sessions on using these tools for market analysis and business modeling will be available during the first two weeks of the assignment period.

– Workshops and Tutorials: Participate in workshops focused on AI in business innovation, which will cover techniques for analyzing market data, generating ideas, and modeling business scenarios.

– Office Hours: Schedule office hours with your instructor to discuss your business model ideas, AI tool use, and strategies for integrating AI insights into your proposal.

– Library Resources: The university library provides access to databases and journals on entrepreneurship, market analysis, and AI applications in business. Librarians can assist you in finding relevant research and data sources.

– Peer Collaboration: Join peer review sessions where you can present your AI-generated business ideas and receive feedback on how to refine and enhance your business model.

Academic Integrity:
Your final business model proposal must reflect your original work, with AI tools used to support your analysis and decision-making process. Misuse of AI to generate unoriginal content or failure to critically engage with AI-generated outputs will be considered a violation of academic integrity. All AI tools and methods used must be properly documented and critically assessed in your reflection.

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