INFLUENCE OF ARTIFICIAL INTELLIGENCE (AI) ON CREATIVITY AND INNOVATION OF BUSINESS AND ENTREPRENEURIAL PRACTICES IN ONDO WEST LOCAL GOVERNMENT

Justinah Abosede Balogun (PhD)

Abstract


This study examined the influence of Artificial Intelligence on the creativity and innovation of Business and Entrepreneurial Practices in Ondo West Local Government Area of Ondo State. Two research questions guided the study and two hypotheses were formulated and tested at 0.05 level of significance. The study adopted a Descriptive Research Design. The sample for the study consisted 52 Entrepreneurs /Business Owners, randomly selected. Data were collected using a Questionnaire titled “The adoption of AI Technology and its impacts on creativity and innovation processes within Businesses and Entrepreneurial ventures in Ondo West” (r=0.86 using Split half). Data collected were analyzed using both descriptive and inferential statistics. It was found, among others, that Artificial Intelligence helps uniquely in the world of creativity and innovation and that the adoption of AI technologies has significant impact on creativity and innovation processes within businesses and entrepreneurial ventures in Ondo West Local Government Area. The paper concluded that the adoption of Artificial Intelligence will proffer better solutions to avoidable mistakes often caused by human error, in order to gain a huge competitive edge in today’s world of business. It was recommended, among others, that Artificial Intelligence be adopted in business and entrepreneurial practices in Ondo West Local Government Area and there should be collaborative efforts between the government and technological firms to promote digital literacy and AI skills

Keywords: Artificial Intelligence, Creativity, Innovation, Business and Entrepreneurial Practices


Full Text:

PDF

References


Amin H. (2024). 5 barriers to AI adoption in creative teams (& overcoming them). https://www.superside.com/blog/barriers-to-ai-adoption-creative-teams

Bessen, J. E. (2022). AI and the Economy: How Artificial Intelligence is Transforming Productivity and Innovation. MIT Press.

Bughin, J., Seong, J., Manyika, J., Chui, M., & Joshi, R. (2018). Notes from the AI Frontier: Modeling the Impact of AI on the World Economy. McKinsey Global Institute.

Christensen, C. M., Raynor, M. E., & McDonald, R. (2015). The innovator’s dilemma: When new technologies cause great firms to fail. Harvard Business Review Press.

Chui, M., Manyika, J., & Miremadi, M. (2018). Notes from the AI frontier: Modeling the impact of AI on the world economy. McKinsey Global Institute.

Coursera (2024). Definition, Uses and Types of Artificial Intelligence. https://coursera.org/articles/what-is-artificial-intelligence.

Duggal N. (2024). Incredible advantages of AI/Notable 23 benefits of AI. https://www.simplilearn.com/advantages-and-disadvantages-of-artificial-intelligence-article Dwivedi, Y. K., Hughes, D. L., Coombs, C., Constantiou, I., Duan, Y., Edwards, J. S. & Upadhyay,

N. (2020). Artificial intelligence (AI): Multifaceted opportunities, challenges, and research agenda. International Journal of Information Management, 57, 101994.

Hofmann, E., & Rüsch, M. (2017). AI and creativity: Intersections, potentials, implications. In Proceedings of the 50th Hawaii International Conference on System Sciences.

Jarrahi, M. H. (2018). Artificial Intelligence and the Future of Work: Human-AI Symbiosis in Organizational Decision Making. Business Horizons, 61(4), 577-586.

Johnson, M. W. (2010). Seizing the white space: Business model innovation for growth and renewal. Harvard Business Review Press.

Kane, G. C., Philips, A., Copulsky, J & Andrus, G. (2019). The technology fallacy: How people are the real key to digital transformation. MIT Press.

Liker, J. K. (2004). The Toyota way: 14 management principles from the world's greatest manufacturer. McGraw-Hill.

Marr B. (2024). 11 barriers to effective adoption of AI and how to overcome them. https://www.linkedin.com/pulse/11-barriers-effective-ai-adoption-how-overcome-them- bernard-marr-2smve

Mueller, S. D., Hoffman, B., & Wyss, D. (2021). Resistance to AI-Driven Innovations in SMEs: A Cultural and Psychological Perspective. Journal of Business Research, 127, 187-198.

Naiman, L. (2024). What is creativity? And why is it crucial for success? https://www.creativityatwork.com/what-is-creativity/

Pratt, M. K. (2024). 24 advantages and disadvantages of AI. https://www.techtarget.com/searchenterpriseai/tip/Top-advantages-and-disadvantages-of- AI

Russel, S., & Norvig, P. (2016). Artificial Intelligence: A Modern Approach (3rd ed.). Pearson.

Varian, H. R. (2018). Artificial intelligence, economics, and industrial organization. National Bureau of Economic Research Working Paper Series, No. 24839.

Wamba-Taguimdje, S. L., Kamdjoug, J. R., Fai, A. K., & Wamba, S. F. (2020). Artificial Intelligence Adoption and Innovation Diffusion: A Systematic Review. Information Systems Frontiers, 22(6), 1431–1456. https://doi.org/10.1007/s10796-019-09993-5

World Bank. (2020). Digital Economy for Africa Report: The Importance of Internet Connectivity and Infrastructure in Sub-Saharan Africa. World Bank Group.


Refbacks

  • There are currently no refbacks.