ISSN 2360-7963
Abstract
The study investigated the role of AI in the survival of start-up businesses in Nigeria. Specifically, the study examined the relationship between AI and the survival of start-up businesses. It also examined the effect of AI on improved service or product delivery by start-up businesses, as well as the influence of AI on informed business decisions. A descriptive survey design was adopted. A questionnaire was used to collect data from 60 respondents. Descriptive statistics frequency, percentages, mean and standard deviation for research questions and chi-square were used to analyse the data. Findings revealed that AI has a significant positive influence on the survival of start-up businesses in Nigeria, the adoption of AI will significantly improve service or product delivery by start-up businesses, and AI will significantly influence and support informed business decisions. Based on the findings, the study recommends that start-up businesses should prioritise innovation in the application of AI, moving beyond traditional uses to explore how AI can solve complex societal challenges. It also suggests that there should be increased collaboration amongst start-up businesses to reduce the burden of the initial cost of AI, which can be a barrier to competitive advantage. Additionally, investment in AI literacy and skills development should not be compromised in order for start-ups to maximise its benefits. There should be a need to create easy access for start-up funding, including venture capital, considering the substantial resource requirements for effective AI integration.
Keywords: Artificial Intelligence, Start-up Businesses, Innovation, Service or Product Delivery, Business Decision