APPLICATION OF ARTIFICIAL INTELLIGENCE IN ENTREPRENEURSHIP PRACTICE IN NIGERIA
Abstract
Artificial Intelligence (AI) is the application of the intelligence of machine software instead of the human intelligence in doing things. Life is all about changes and positive changes should at all times be embraced. Technology has developed Artificial Intelligence machines capable of simulating human intelligence processes, which include expert systems, natural language processing, speech recognition, machine vision, etc. These qualities make Artificial Intelligence an “electronic human being” whose potentials should be explored to full advantage in all human endeavors, including education and entrepreneurship practices. This paper x-rays the types and uses of the various forms of AI which include the Narrow AI, Artificial General Intelligence, Artificial Super Intelligence, Reaction Machine Intelligence, Limited Memory Artificial Intelligence, Theory of Mind AI and Self Aware AI. It equally considered the capacities of these AI option types and saw Artificial Intelligence as a welcome development in the practice and achievement of entrepreneurial goals and objectives. The essence of entrepreneurship practice is to build a better financial stability that supports growth and development. These can only be achieved through efficient allocation and management of resources. It was found that the introduction and application of AI in entrepreneurship practice will enhance efficiency and reliability in service delivery with its consequential elimination of human errors and disappointments; and recommends among other things, the incorporation of this all important technological innovation in our entrepreneurship practice in Nigeria to encourage its growth and development.
Keywords
Full Text:
PDFReferences
Abubakar, A. E. (2019). Entrepreneurship education in Nigeria. A keynote address presented at the 27th Annual Congress of the Nigerian Academy of Education. November 5 - 9th. Minna, Niger State.
Adofa, D & Ocheja, S. S. (2019). Entrepreneurship and Higher Education: An Employability perspective. New York: the Higher Education Academy.
Alan, S. J. (2019). Cognitive style and Entrepreneurial Drive of New and Mature Business Owners – Managers. Journal of Business and Psychology 24 (4) 419 – 430.
Antonenko, P. and Abramowitz, B. (2023). In-service teachers’ (mis)conceptions of artificial intelligence in K-12 science education. Journal of Research on Technology in Education, [e-journal] 55(1), pp. 64-78. https://doi.org/ 10.1080/15391523.2022.2119450.
Chalmers, D., MacKenzie, N. G., & Carter, S. (2021). Artificial intelligence and entrepreneurship: Implications for venture creation in the fourth industrial revolution. Entrepreneurship Theory and Practice,45(5), 1028-1053.
Chiu, T., Xia, Q., Zhou, X., Chai, C.S. and Cheng, M., 2023. Systematic literature review on opportunities, challenges, and future research recommendations of artificial intelligence in education. Computers and Education: Artificial Intelligence, [e-journal] 4, article no. 100118. https://doi.org/10.1016/j.caeai.2022.100118.
Giuggioli, G., & Pellegrini, M. M. (2022). Artificial intelligence as an enabler for entrepreneurs: a systematic literature review and an agenda for future research. International Journal of Entrepreneurial Behavior & Research.
Lévesque, M., Obschonka, M., & Nambisan, S. (2022). Pursuing impactful entrepreneurship research using artificial intelligence. Entrepreneurship Theory and Practice, 46(4), 803-832.
Mary K. P. (2024). 15 top applications of artificial intelligence in business: https://www.techtarget.com/searchenterpriseai/tip/9-top-applications-of-artificial-intelligence-in-business
McGrath, C., Pargman, T.C., Juth, N. and Palmgren, P., 2023. University teachers’ perceptions of responsibility and artificial intelligence in higher education – An experimental philosophical study. Computers and Education: Artificial Intelligence, [e-journal] 4, article no. 100139, pp. 1-9. https://doi.org/10.1016/j.caeai.2023.100139.
McKenzie, D. & Sansone, D. (2019), “Predicting entrepreneurial success is hard: evidence from a business plan competition in Nigeria”, Journal of Development Economics, Vol. 141.
Nambisan, S., Wright, M., & Feldman, M. (2019). The digital transformation of innovation and entrepreneurship: Progress, challenges and key themes. Research Policy, 48(8), 103 – 128.
Nie, X. (2020), “Research on economic function data and entrepreneurship analysis based on machine learning and computer interaction platform”, Journal of Intelligent and Fuzzy System, Vol. 39 No. 4, 563 - 581.
Nuseir, M., Basheer, M. F. and Aljumah, A., 2020. Antecedents of entrepreneurial intentions in smart city of Neom Saudi Arabia: Does the entrepreneurial education on artificial intelligence matter? Cogent Business and Management, [e-journal] 7(1), pp. 1-16. https://doi.org/10.1080/23311975.2020.1825041.
Obschonka, M. & Audretsch, D. B. (2020), “AI and big data in entrepreneurship: a new era has begun”, Small Business Economics, Vol. 55 No. 3, 529-539.
Oguejiofor, C.S.& Iyoha,, D.O (2023) Promotion of employability skills among business education graduates in Delta State: implications for knowledge transfer and global competitiveness. Journal of educational research (8) 1 190-204
Oguejiofor, C. S. (2017). Mentoring in Entrepreneurship: Imperative for Nigeria’s economic development. Nigerian journal of business education (4) 1 223 – 231
Ogundele, C. O. (2020) Capacity Building Entrepreneurial Development. Paper presented at FCE (T) Potiskan in ETF capacity Building held on 13th – 25th October, 2020.
Robledo, S., Grisales Aguirre, A. M., Hughes, M., & Eggers, F. (2023). “Hasta la vista, baby”–will machine learning terminate human literature reviews in entrepreneurship? Journal of Small Business Management, 61(3), 1314-1343.
Shepherd, D. A., & Majchrzak, A. (2022). Machines augmenting entrepreneurs: Opportunities (and threats) at the Nexus of artificial intelligence and entrepreneurship. Journal of Business Venturing, 37(4), 106227.
Tan, C., 2020. Digital Confucius? Exploring the implications of artificial intelligence in spiritual education. Connection Science, [e-journal] 32(3), 280-291. https://doi.org/10.1080/09540091.2019.1709045.
Townsend, D. M., & Hunt, R. A. (2019). Entrepreneurial action, creativity, & judgment in the age of artificial intelligence. Journal of Business Venturing Insights, 11, e00126.
Refbacks
- There are currently no refbacks.
Copyright (c) 2025 Christian Do-Good Nwosu, Angela Chekwube Ekoh-Nweke
ISSN PRINT: 2630 - 7081
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.