Driving Change in the Energy Sector : Evaluating Entrepreneurial Opportunities Provided by Artificial Intelligence

Sammanfattning

While the energy sector is full of opportunities to make real changes, it is also in crucial need of change itself due to the energy transition, its historical legacy and constantly emerging innovations. At the same time, artificial intelligenceis emerging as a huge opportunity supporting humans in performing tasks and solving complex problems. This qualitative study investigates the opportunities artificial intelligence is offering and deals with the question of how corporate entrepreneurs in the energy industry evaluate those entrepreneurial opportunities. It combines the theories of opportunity evaluation and innovation in regard to artificial intelligence and highlights that one does not go without the other. This is further exemplified by the exploratory multiple case study with empirical data from eleven semi-structured interviews with entrepreneurs involved with AI technologies from start-up companies, established businesses, or consultancy firms. Through a thematic analysis, the interlinked themes Drivers of Change, Rule of Regulation and the Value of AI in Driving Change emerged as the three main aspects entrepreneurs assess in the energy industry when evaluating opportunities provided by artificial intelligence. The study reveals that the energy sector needs innovation and a kind of revolution driven by corporate entrepreneurs to tackle the challenges of the energy transition while simultaneously, they need to have a regulatory framework that is enabling them to innovate. Furthermore, corporate entrepreneurs need to support the usage of AI among their workforce to allow innovation and ensure the future viability of their companies. Those entrepreneurs who are using AI discovered a great opportunity, but the technology is only one of many tools that supports them in dealing with the challenges of the energy transition and the historical legacy of the energy sector.