- Volume 13, Number 1 (2025)
TRANSFORMING FRAUD DETECTION THROUGH GENERATIVE ARTIFICIAL INTELLIGENCE
Nathaniel Chinedu Okafor
As financial fraud schemes grow increasingly sophisticated, traditional detection models struggle to keep pace with the evolving threat landscape. Generative Artificial Intelligence (AI), particularly models like Generative Adversarial Networks (GANs) and Large Language Models (LLMs), are emerging as transformative tools in the realm of fraud detection. These models enable the creation of synthetic datasets, simulate fraudulent behaviors, and enhance the accuracy of anomaly detection systems. By generating realistic fraud scenarios, generative AI enhances predictive modeling and supports proactive risk mitigation strategies in financial institutions. However, the use of generative AI also raises critical concerns around data privacy, explainability, and potential...
THE DIGITAL FRONTLINE: EXPLORING THE IMPACT OF AI AND VIRTUAL ASSISTANTS ON CUSTOMER EXPERIENCE
Fiona Margaret Campbell
This paper provides a comprehensive review of the technological advancements and business impacts associated with the integration of Virtual Assistants (VAs) and Artificial Intelligence (AI) in customer service. As organizations increasingly leverage these technologies to enhance customer interactions, it becomes imperative to understand the evolving landscape and its implications. The review begins by exploring the evolution of virtual assistants, tracing their roots from rule-based systems to the current sophisticated AI-driven models. It delves into the underlying technologies such as natural language processing, machine learning, and sentiment analysis that empower these virtual assistants to comprehend and respond to user inquiries with...
EMPOWERING SMALL BUSINESSES: THE ROLE OF AI IN NIGERIA’S RETAIL INDUSTRY
Ivan Dmitrievich Sokolov
This study examines the integration of Artificial Intelligence (AI) in the decision-making processes of Small and Medium Enterprises (SMEs) in Nigeria’s retail sector, focusing on its applications, benefits, challenges, and future prospects. Using a descriptive research design, data was collected through a Google Forms survey from 100 SME decision makers. The findings reveal that while 70% of SMEs have adopted AI to some extent, only 20% have fully integrated it into their operations, with customer behavior analysis (60%) and inventory management (50%) being the most common applications. AI adoption has led to improved decision-making (65%) and enhanced operational efficiency (60%),...
GOVERNANCE MECHANISMS AND FIRM OUTCOMES IN NIGERIA’S PETROLEUM DOWNSTREAM SECTOR
Chukwuemeka Gabriel Okonji
This study focuses on the effects of regulation process on firm performance of the downstream sector in the Nigerian petroleum industry. The specific objectives are to examine the effects of legal framework on firm performance, to examine the effects of monitoring process on firm performance, to ascertain the effects of price fixing process on firm performance and to determine the effects of evaluation process on firm performance. The descriptive survey research design method was adopted. The population of this study consists of major petroleum marketers and tank farm owners in the South-South region of Nigeria; Matrix Energy, Rain Oil, Nepal...