Artificial Intelligence and the Performance of Consumer Goods Firms in Abia State, Nigeria

Abstract

The study examined the effect of artificial intelligence on the performance of consumer goods firms in Abia State, Nigeria. Artificial intelligence was proxied by machine learning, natural language processing and data analytics, while performance was measured using profitability. Survey research design was adopted. The data were collected through questionnaire administration. The sample size of consists of 200 staff of Nigerian breweries and Coca Cola bottling company in Aba, Abia State, Nigeria. The data collected were analyzed using ordinary least multiple regression analysis. The result revealed that machine learning and natural language processing have a significant effect on profitability of consumer goods firms. However, data analytics has no significant effect on profitability of consumer goods firms. Based on the findings, the study concludes that artificial intelligence affects the performance of consumer goods firms in Abia State, Nigeria. Therefore, the study recommends that artificial intelligence should be adopted in business operations to enhance performance and help in the attainment of business objectives, especially in the area of non-financial items. Finally, it is recommended that educational institutions and professional bodies should collaborate to develop and offer comprehensive AI education and training programs tailored to firms on the use of data analytics since computer is all about garbage in garbage out. Lack of training or incompetency on the use of data analytics will definitely result to negative effect on profitability.