ChatGPT and AI combined with entrepreneurial ideas last Wednesday as Neeley students attempted to “Build a Business in an Hour.”
The activity was sponsored by the TCU Entrepreneurship Club in an effort to help students consider profitability, scalability, feasibility and usage cases during their development process.
Students paired off into teams and spent 30 minutes developing a comprehensive scheme to get an accurate idea of the process.
Club leaders helped guide teams through the process, but ultimately, each team was able to create an extensive plan in the allotted time period.
Four teams working to create their comprehensive business plan using basic ideas generated by ChatGPT.
ChatGPT also assisted in the process. The artificial intelligence application generated potential ideas for students. AI is being increasingly used in the classroom as a resource to help students stay relevant in today’s ever-changing technology, Alijah Wood, club senior mentor, said.
Wood and other mentors judged each group while giving them specific feedback regarding which ideas would make their plan successful and the aspects that could be improved upon.
The winning group created an initial mission statement and utilized all of the basic elements, which were mandatory aspects that other groups failed to include, Wood said.
Winners Evan Houdeshell and Jason Vander Pol created a plan for an online event coordinating company. They said that the competition gave them insight into a legitimate business environment and they appreciated the helpful criticisms they received to better their plan.
The Entrepreneurship Club aims to provide its members with real-life business scenarios, academic support and possible internships. The club is funded by the Neeley School of Business, which allows non-business majors to get involved and gain knowledge they otherwise wouldn’t have access to.
Club President Payton Cranford said that the club is all about connecting, growing and becoming more innovative which are concepts that all entrepreneurship events include.
Senior mentors also expressed their goal of fostering a culture of entrepreneurship on campus. Because it is a field that is constantly evolving, leaders and professors are always improving upon the basic concepts that exist while maintaining relevance.
The club’s next event is a pickleball game on Oct. 3 at the TCU tennis courts.
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