Generating Business Models with Generative AI

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. LeanStartAgent, 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.

A brief video introduction to LeanStartupAgent can be found here.