Digital Business Process and Business Transformation of Banks in Owerri

Abstract

Many businesses in Nigeria are still held back by their traditional ways of engaging business processes in a business world evolving with artificial intelligence. The business leader’s ways of doing business makes it difficult to grow new business and not effectively managing business process transition. The major objective of the study is to investigate the relationship between digital business process and business transformation, while the specific objective is to examine the relationship between the artificial intelligence and business process reengineering. The study was anchored on Knowledge-based theory of the firm. Correlation survey design was employed for the study so as to show the type of relationship between the dependent and independent variables. The population of the study is made up of the management and operations staff of the selected banks (Access Bank and Fidelity Bank Owerri) The total sample size of 120 was adopted. The validity of the instrument was performed on the surface level using face validity while Cronbach’s Alpha estimate was used to measure the reliability of the questionnaire with the aid of SPSS version 23 Again. Pearson’s Product Moment Correlation Coefficient was used in analyzing the data with the aid of Software Package for Social Sciences (SPSS v.23). The study revealed that there is significant relationship between Artificial Intelligence (Digital leadership) and Business process re-engineering (work flow design). The study recommended that business organizations should deem it fit that their leaders are digitally compliant to utilize available IT innovations or knowledge to cause changes that can help the organization attain its set objective. Also, a synergy should be created among the business elements for creating reengineering to get the best and utmost result.