Published Online:January 2021
Product Name:The IUP Journal of Knowledge Management
Product Type:Article
Product Code:
Author Name:Wilson Nwankwo, Charles Oluwaseun Adetunji, Akinola Samson Olayinka, Kingsley Eghonghon Ukhurebor, Kingsley Ukaoha, Umezurike Chinecherem, Pascal Uchenna Chinedu and Benjamin Uchenna Benson
Availability:YES
Subject/Domain:Strategic
Download Format:PDF
Pages:26
Corporate adoption of emerging technologies such as Artificial Intelligence (AI) and Internet of Things (IoT) in enterprises are plagued with challenges. A majority of these challenges are traditional, in the sense that humans as social beings are not only interested in the convenience offered by technology but also in the social and economic effects such technology would exert on the social relevance of the individual. Understanding the principles of sociotechnical systems in functional organizations is a great credential that could reduce the negative responses to technology adoption, thereby promoting competitiveness and sustainability. The next decade would witness a consistent integration of AI and IoT into the business processes of both private and public sector owing to their projected immense potential. It is believed that the combined effects of these pervasive technologies would enhance effectiveness, competitiveness, sustainability and efficiency. This paper discusses the adoption of these emerging technologies in the formal sector vis-à-vis their socio-psychological and systematic implications. In the discussion, the technology acceptance and sociotechnical models are brought to bear, and a position is advanced on how an organization could explore the benefits of these models in a fast-changing technology society.
The formal sector contributes to a great extent to Gross Domestic Product (GDP) in most economies globally (Foellmi and Josef, 2011), and this may be traced to their organized nature as opposed to the informal sector which does not necessarily adhere to the provisions