Abstract:

Adapting to technological advancement and implementing innovative solutions has become a vital strategic priority for companies aiming to prosper in the dynamic business environment of today. This reality could be an inhibitory factor to the performance of small and medium enterprises (SMEs). This study looked at how additive manufacturing, big data analytics, and artificial intelligence affected the financial performance of SMEs in Lagos, Nigeria. A survey of 251 staff of SMEs in Lagos State, Nigeria was carried out. Data collected was analyzed using multiple regression analysis and Partial Least Square Structural Equation Modelling (PLS-SEM). The results show that artificial intelligence and additive manufacturing significantly and favorably affect the financial performance of SMEs in Lagos, Nigeria. This study concluded that, among various forms of disruptive technology, both additive manufacturing and artificial intelligence significantly impact financial performance. Therefore, the study recommended that companies should invest in training programs for big data analytics to ensure their activities reflect improvements in technology advancement and business advantage. Also, the management and staff of SMEs should prioritize acquiring knowledge in artificial intelligence and consider its integration to achieve a competitive advantage and enhance financial performance.