Artificial Intelligence (AI) Power and Entrepreneurial Success.

Abstract:

This study examined the effect of Artificial Intelligence (AI) on entrepreneurial success of Small and Medium Enterprises (SMEs), Eket, Akwa Ibom State. However, the specific objectives were to examine the effect of AI rarity and AI utilization efficiency on entrepreneurial success of SMEs, Eket, Akwa Ibom State. This study adopted a survey research design and utilized primary data collected from pre-selected population which included SMEs that had already integrated or in the process of integrating AI technologies in their business operations, in Eket, Akwa Ibom State. The data collected were analyzed using descriptive statistics, analysis of variance and multiple regression analysis via SPSS 25.0 statistical package. The study findings revealed that AI rarity has a significant positive effect (r= 0.063{p=0.008<0.05}) on entrepreneurial success of SMEs in Eket, Akwa Ibom State while AI utilization efficiency has a significant positive effect (r= 0.442{p=0.001<0.05 on entrepreneurial success of SMEs in Eket, Akwa Ibom State. It was thus concluded that AI power exerts a significant effect on entrepreneurial success of SMEs in Eket, Akwa Ibom State at 5% level of significance. The study recommended, amongst others, that the SMEs in Eket should ensure that they take the time to do the research and educate themselves on how to properly use AI technologies to provide services or create value in ways that make them stand out from the competition.