Artificial Intelligence as a Dependable Tool for Effective Management of Entrepreneurial Businesses: The Knowledge Needed by Business Education Students in Nigeria

Abstract

In the evolving global economy, the integration of Artificial Intelligence (AI)into business practices is reshaping entrepreneurial management. The study assessed the potential of AI as a dependable tool for enhancing the effectiveness, management of entrepreneurial businesses and the knowledge needed by business education students in Nigeria. Needs assessment survey design was adopted to carry out this research. The study was carried out in Nigeria. The targeted population comprised all business education students in Nigeria. Stratified sampling technique was used to select 70 business education students from each of the three states (AkwaIbom, Cross River and River State) of the country. This gave a total of 210 respondents which made up the sample size used for this research. The instrument used for data collection was a structured questionnaire titled “Artificial Intelligence as a Dependable Tool for Effective Management of Entrepreneurial Businesses Questionnaire (AIDTEMEBQ)”.Face and content validation of the instrument was carried out by an expert in test, measurement, and evaluation in order to ensure that the instrument has the accuracy, appropriateness, and completeness for the study under consideration. The researcher subjected the data generated for this study to appropriate statistical technique such percentage analysis to answer research questions. The result of the data analysis revealed that “Driven Decision-Making and Business Strategy” was the most outstanding impact of artificial intelligence on effective management of entrepreneurial business. It also showed that “AI Assisted-Market Research and Business Insights” was the highest strategic way business education students can use AI to improve in entrepreneurial business. The study concluded that artificial Intelligence (AI) is rapidly transforming the management of entrepreneurial businesses by enhancing decision-making, automating operations, and improving overall efficiency. One of the recommendations made was that business education institutions in Nigeria should incorporate AI-related courses into their curricula to equip students with essential knowledge and skills.