The Impact of Artificial Intelligence on Organizational Performance: Insights from VFD Micro Finance Bank (VBank), Lagos State Nigeria

Annabel I. Amadi, Rolland O. Emuobor, Tolulope O. Mosue and Salisu A. Abdullahi
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Annabel I. Amadi: Federal University of Technology Owerri, Nigeria
Rolland O. Emuobor: Northumbria University, United Kingdom
Tolulope O. Mosue: Northumbria University, United Kingdom
Salisu A. Abdullahi: Teesside University United Kingdom

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 14, 518-531

Abstract: This study examined “The Impact of artificial intelligence on organizational performance: Insights from VFD micro finance bank†. Methodology: Relevant data were drawn from selected one hundred (100) staff of VFD micro finance bank in Lagos state, using a well-structured questionnaire. The findings of the study revealed that there is an impact of artificial intelligence on organizational performance. Study conclusion and policy recommendations: The study concluded that in the twenty-first century, AI techniques have experienced a resurgence following concurrent advances in computer power, large amounts of data, and theoretical understanding; and AI techniques have become an essential part of the technology industry, helping to solve many challenging problems in business. The study recommends that businesses must take proactive measures to address the obstacles to AI adoption if they want to optimize the technology’s beneficial effects on organizational performance. It is advised that businesses concentrate on making investments in the training of a knowledgeable workforce by providing courses that give staff members the skills they need to work with AI. In addition to ensuring that employees can efficiently manage and fully utilize AI technologies, this will assist close the talent gap. Additionally, in order to stay up with the rapid advancement of AI technologies and approaches, organizations need to cultivate a culture for continuous learning.

Date: 2024
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