IMPACT OF ARTIFICIAL INTELLIGENCE ON BUSINESSPERFORMANCE IN GUARANTY TRUST BANK AND NESTLÉ NIGERIAPLC

Abstract

This study investigates the impact of Artificial Intelligence (AI) adoption on business
performance in two leading Nigerian firms—Guaranty Trust Bank (GTBank) and
Nestlé Nigeria Plc. Using a quantitative descriptive survey design, data were obtained
from 373 employees directly involved in AI-enabled operations. Descriptive and
inferential analyses, including correlation and regression, were applied to examine
how AI influences operational efficiency, customer satisfaction, and organisational
productivity. Results reveal that AI adoption significantly enhances efficiency through
automation, real-time analytics, and data-driven decision-making. Customer
satisfaction improved via personalised interactions, predictive service delivery, and
faster response times. Similarly, productivity increased as AI optimised workflows,
reduced redundancy, and supported innovation. However, these positive outcomes
were moderated by challenges such as high implementation costs, limited technical
expertise, infrastructural gaps, and data-security concerns. The study concludes that
while AI substantially strengthens business performance, its effectiveness depends on
how well organisations mitigate these adoption barriers. It recommends strategic
investments in digital infrastructure, capacity building, and governance frameworks
to enhance AI readiness and sustainability. By integrating insights from both the
banking and manufacturing sectors, this research contributes empirical evidence on
AI’s transformative role in emerging economies, offering practical guidance for
managers and policymakers seeking to leverage AI for long-term competitiveness and
economic growth.