ARTIFICIAL INTELLIGENCE AND MARKET SHARE OF MANUFACTURING COMPANIES IN RIVERS STATE

Abstract

This study investigated the effect of Artificial Intelligence on market share of manufacturing companies in Rivers State, Nigeria. The explanatory survey research design was adopted for the study. The objectives of this study were to: determine the nature and extent of adoption of Artificial Intelligence in manufacturing companies and examine the extent to which robotics, machine learning and data mining affect the market share of manufacturing companies in Rivers State, Nigeria. The population of the study comprised of 98 manufacturing companies and the entire population of 98 entities were used as the sample size for the study. The questionnaire was the main instrument used in data collection. 98 copies of the questionnaire were administered to the employees (representatives) of the manufacturing companies and all the copies of the questionnaire were completed and returned. The study employed the descriptive statistics like simple percentages and tables as well as mean and standard deviation to present and analyze the data from the respondents. Regression analysis technique was adopted in testing the hypotheses and it was found that all the dimensions of Artificial Intelligence (AI) had positive effect on market share. The descriptive analysis revealed that more than 10% of the manufacturing companies adopted Artificial Intelligence. Based on that, a further analysis was carried out using regression tool and it was discovered that robotics, machine learning and data mining had positive significant effect on market share.  It was therefore concluded that Artificial Intelligence has positive significant effect on market share of manufacturing companies in Rivers State. Consequently, it was recommended that to improve the market share of manufacturing companies, robotics should be adopted and used in these companies in such areas of manufacturing operations and feedback system.