ARTIFICIAL INTELLIGENCE AS A CATALYST FOR ENTREPRENEURIAL OPPORTUNITY RECOGNITION AND NEW VENTURE CREATION BY NIGERIAN UNIVERSITY GRADUATES

Abstract

This study examined Artificial Intelligence as a catalyst for entrepreneurial opportunity recognition and new venture creation among Nigerian university graduates. The study was motivated by the growing challenge of graduate unemployment in Nigeria and the increasing adoption of Artificial Intelligence (AI) as a digital tool for entrepreneurship development. Specifically, the study investigated the extent to which AI influences entrepreneurial opportunity recognition and its effect on new venture creation among Nigerian university graduates. A descriptive survey research design was adopted. The target population comprised graduates of selected federal, state, and private universities in Nigeria, while a sample of 600 respondents was selected using a multistage sampling technique. Data were collected using a structured questionnaire titled Artificial Intelligence and Entrepreneurial Opportunity Recognition Questionnaire (AIEORNVQ). The instrument was validated by experts, and its reliability was established using Cronbach's alpha. Data were analysed using mean and standard deviation to answer the research questions, while Simple Linear Regression Analysis was used to test the hypothesis at the 0.05 level of significance. The findings revealed that Artificial Intelligence had a very high influence on entrepreneurial opportunity recognition (Grand Mean = 4.31) and a strong positive effect on new venture creation (Grand Mean = 4.32) among Nigerian university graduates. The regression analysis further established that Artificial Intelligence significantly predicted entrepreneurial opportunity recognition and new venture creation (R = 0.792, R² = 0.627, F = 1003.624, p < 0.05). The study concluded that Artificial Intelligence is a significant catalyst for entrepreneurial opportunity recognition and sustainable new venture creation among Nigerian university graduates. The study recommended the integration of AI into university entrepreneurship curricula, increased government support for AI-driven startups, and expanded digital entrepreneurship training for graduates.