ARTIFICIAL INTELLIGENCE AND FUTURE OF BUSINESS IN NIGERIA: OPPORTUNITIES, CHALLENGES AND IMPLICATIONS FOR BUSINESS EDUCATION AND TRAINING

Dr (Mrs) Comfort Onaigho Nwadiani

Abstract


This study critically examines the role of Artificial Intelligence (AI) in shaping the future of business in Nigeria, with a particular focus on its opportunities, challenges, and implications for business education and workforce development. As global economies increasingly adopt AI- driven solutions, Nigerian businesses stand at a pivotal point where the integration of AI could significantly enhance operational efficiency, strategic decision-making, and customer engagement across various sectors, including manufacturing, banking, healthcare, education, and agriculture. The study adopts Fred Davis‟ Technology Acceptance Model (TAM, 1989) as its theoretical framework, providing insights into the behavioural and organizational factors that influence the adoption of emerging technologies. While AI presents vast opportunities, its implementation in Nigeria is hindered by several challenges, including l. imited access to quality data, high costs of AI infrastructure, inadequate policy frameworks, and a shortage of professionals with relevant technical expertise. Despite tese barriers, the potential benefits of AI adoption are substantial. Nigerian businesses can leverage AI to foster innovation, develop competitive business models, improve productivity, and position themselves more effectively in global markets. The paper emphasizes that realizing these benefits requires strategic investments in digital infrastructure, AI-focused education and training, and supportive government policies. The study concludes that AI is poised to play a transformative role in the Nigerian business environment. It recommends a coordinated effort among government, industry, and academic institutions to develop a sustainable AI ecosystem that will empower businesses and reshape business education in Nigeria for long-term economic growth and competitiveness. Keywords: Artificial Intelligence, Future of Business, Challenges, Prospects

 

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