Exploring the Role of Artificial Intelligence Capabilities on Small and Medium-Sized Enterprises Growth in Nigeria

Authors

  • Muktar Itai Covenant University, Ota
  • Okorie Uchechukwu Emena
  • Ufua Daniel Covenant University, Ota. Ogun State, Nigeria

Keywords:

Artificial intelligence, employment, innovation, SMSs, information and communication.

Abstract

This study examined the relationship between Artificial Intelligence (AI), innovation, employment and growth of SMEs in Nigeria. Principal component analysis (PCA) and the structural equation model (SEM) were used to examine the role of AI on SMEs growth in South West, Nigeria. The population of the study focused on SMEs firms engaging in manufacturing, hospitality, information and communication, and administrative and support services sectors. A sample size of 322 was adopted from Krejcie and Morgan research table of a population size of 2,000. Results of study showed that AI innovation indicators have positive relationship with SMEs growth. It was also observed that AI employment indicators exert a direct relationship with the latent factor. Overall results showed that applications of AI construct indicators remain (direct, indirect and total effect) strong on SMEs growth. Implications of the research results will offer a deeper insight for owners of SMEs, entrepreneurs, academic researchers and stakeholder to promote economic growth and development

Author Biographies

Okorie Uchechukwu Emena

Senion Lecture: Department of Economics and Development Studies, College of Management and Social Sciences, Covenant University, Ota, Ogun State

Ufua Daniel , Covenant University, Ota. Ogun State, Nigeria

Senior Lecturer: Department of Business Management, College of Management and Social Sciences, Covenant University, Ota. Ogun State, Nigeria

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Published

2024-08-19

How to Cite

Itai, M., Uchechukwu Emena , O. ., & Daniel , . U. (2024). Exploring the Role of Artificial Intelligence Capabilities on Small and Medium-Sized Enterprises Growth in Nigeria. African Journal of Economic and Business Research, 3(2). Retrieved from https://journals.hu.edu.et/hu-journals/index.php/ajebr/article/view/1152

Issue

Vol. 3 No. 2 (2024): The African Journal of Economics and Business Research

Section

Articles

License

This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/ licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. The terms on which this article has been published allow the posting of the Accepted Manuscript in a repository by the author(s) or with their consent.