APPLICATION OF ARTIFICIAL INTELLIGENCE FOR INNOVATION OF SMALL AND MEDIUM SCALE BUSINESSES IN NIGERIA

Patience Favour Mukolu

Abstract


The objective of every business is to meet the customer demands and stand out among their competitors and more. Recognizing this fact many business managers source for ways of improving their business which include the use of Artificial intelligence. This paper highlights the application of artificial intelligence for innovation of small and medium scale businesses in Nigeria. This paper highlights key applications, benefits, challenges and recommendation through content analysis. The application of Small and medium Scale enterprises (SMEs), such as virtual assistants and chatbots, Voice recognition software and Robotic process automation, Also the study assess the potential benefits, including enhanced customer service, Cost saving, Enhanced decision making, The study examines various challenges that small- and medium-scale enterprises (SMEs) in Nigeria faces when implementing artificial intelligence (AI). These difficulties include  shortage of specialized personnel and knowledge, the high cost of integrating and maintaining AI systems .Finally the paper examines the recommendation to tackle the challenges mentioned, which includes government development of national strategy for AI that encourages, integrates, and maintains its use among small and medium scale business .Government and SMEs management should work together to create secure data mechanisms and provide staff training and skill development to enhance AI capabilities.


Keywords


Artificial Intelligence, Innovation, Small and Medium business, Business,

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