Title: Artificial Intelligence and Lean Entrepreneurship among Selected Manufacturing Firms in Nigeria
Authors: Linda Lucy Ilodilibe, Gilbert Ogechukwu Nworie, Prof. Ebele Mary Onwuka
Volume: 8
Issue: 11
Pages: 11-22
Publication Date: 2024/11/28
Abstract:
This study examined the relationship between artificial intelligence (AI) and lean entrepreneurship among Nigerian manufacturing firms. The specific objective was to ascertain the contribution of AI-powered financial modeling and AI-powered market research towards lean entrepreneurship among selected manufacturing firms in Nigeria. The study employed a descriptive survey research design to gather data from participants on the relevant variables. Cochran's formula was used to determine the appropriate sample size 384 respondents drawn from manufacturing firms in Nigeria. Primary data were gathered using a structured questionnaire, designed with a 5-point Likert scale to assess various constructs. The data were analyzed using descriptive statistics, including frequency counts. For hypothesis testing, inferential analysis was conducted at a 5% significance level using Spearman's Correlation Analysis, performed with the Statistical Package for the Social Sciences (SPSS) Version 25. The findings revealed that: AI-powered financial modeling significantly and positively contributes to lean entrepreneurship among selected manufacturing firms in Nigeria (Spearman's rho = 0.845; p-value of 0.000); AI-powered market research significantly and positively influences lean entrepreneurship among selected manufacturing firms in Nigeria (Spearman's rho = 0.852; p-value of 0.000). In conclusion, the strategic adoption of AI and lean entrepreneurship principles could provide the impetus needed for the manufacturing sector to achieve sustained growth and competitiveness. It is recommended that manufacturing firms in Nigeria should invest in AI-driven financial modeling tools to enhance their financial decision-making processes since this will enable the firms to optimize resource allocation, reduce waste, and improve operational efficiency, which are essential for adopting lean entrepreneurship practices effectively.