Entrepreneurial Futures in the AI Age: Opportunities and Challenges for Nigerian Startups
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Aaaron Agbeche
Ekpeni Ogechukwu Perpetual*
Orie Roland Akpubi
The growth of artificial intelligence (AI) brings advantageous prospects along with difficulties to Nigerian startups while affecting their innovation processes decision-making approaches and market expansion. The study investigates the potential of AI-driven entrepreneurship in Nigeria by evaluating its benefits and identifying barriers to adoption. This research investigates how Nigerian startups leverage AI opportunities while evaluating their readiness for AI adoption and determining AI's effects on entrepreneurial success. The Technology Adoption Model (TAM) serves as the study’s framework because it describes the relationship between AI adoption and the factors of perceived usefulness and perceived ease of use. The study utilized a descriptive survey research design to gather data from 250 startups operating in fintech, health tech, agritech, e-commerce, and logistics sectors through a structured questionnaire. The study used both descriptive and inferential statistical methods and regression analysis to measure AI's influence on business performance. Research demonstrates that AI improves decision-making processes and operational cost efficiency while promoting innovation alongside a strong positive relationship (r = 0.829, p < 0.001) between AI implementation and entrepreneurial success. Poor digital infrastructure together with high implementation costs and insufficient AI expertise as well as regulatory constraints prevent widespread AI adoption. Investments in digital infrastructure along with funding mechanisms and AI development programs must be strategically pursued because AI offers substantial transformative possibilities. The study suggests the implementation of policy interventions and financial assistance alongside skill development programs to improve Nigerian startup AI adoption capabilities.
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