Chatbox advancement and business growth for online micro, small and medium enterprise in Nigeria

Abstract

In recent time, micro, small and medium enterprises (MSMEs) has proven to be a bedrock through which nations can attain significant sustainable development and growth. Most emerging economies of the world has shown positive contribution of MSMEs to their real Gross Domestic Product (RGDP). Nigeria has not been left behind in this trend as the country has also leveraged on harnessing the bundles of benefit that MSMEs offers in growing its economy as this can be seen in the recent changes in their economic indexes. Chatbox advancement in recent time has changed the way in which most of the online businesses operates and has go a long way in improving customer experience and in the long run business growth. Chatbots are increasingly driving business growth in Nigeria by enhancing customer service, streamlining operations, and offering new avenues for digital engagement. They are particularly beneficial for financial institutions, allowing for 24/7 customer service and facilitating digital transactions. The technology also empowers small businesses to connect with customers, promote their products, and build stronger relationships. this study positions chatbot as a digital transformation tool to radically change business model, improve customer experience, and enhance financial inclusion in emerging markets.