Joining the dots: exploring the interplay of trust, ethics, and Artificial Intelligence in shaping entrepreneurial decision-making

This paper suggests that trust is central to entrepreneurs’ adoption of Artificial Intelligence (AI), particularly in managing ethical and privacy concerns. In elaborating this proposition, this article draws on the results of an exploratory study of twenty entrepreneurs in Scotland, to demonstrate how using a trust-based lens provides new insights into the relationship between AI, ethics, and entrepreneurship. The concept of the ‘liability of trustworthiness’ is introduced to explain how entrepreneurs contend with the risks associated with AI’s opaque decision-making processes and regulatory uncertainty.

At the centre, trust was found to be indispensable in influencing how entrepreneurs balance innovation with ethical responsibility. While AI presents significant opportunities for business efficiency and growth, concerns over transparency, fairness, and accountability remain key barriers. The results facilitate a rich understanding of how ethical considerations and trust-based perceptions underpin entrepreneurial engagement with AI. The study contributes by providing well-founded insights into the intersection of AI, ethics, and entrepreneurship, by shedding light on the factors that shape responsible AI adoption in business.