CHALLENGES AND OPPORTUNITIES OF AI-DRIVEN CYBERSECURITY FOR SMALL AND MEDIUM ENTERPRISES (SMES) TOWARDS POVERTY REDUCTION IN NIGERIA

Authors: Ayepeku Olukayode FELIX, Olofinlade Samuel OLUWAPELUMI

Affiliation: Thomas Adewumi University Oko-Irese, University of Ilorin

Category:

Keywords: AI, AI-Driven, Cybersecurity, Enterprises, SMEs, Small, Medium, Poverty reduction, JEL Classification: G 21, G33

ABSTRACT. Nigerian Small and Medium Enterprises (SMEs) face significant challenges in protecting their digital assets due to the increasing proliferation of cyber threats which tends to affect their goals of intermediary in employment generation towards reducing poverty in the society. This article examines the role of artificial intelligence (AI) in reducing risks and opening new opportunities for the SMEs in safeguarding their assets towards job creation which is an agent of fighting poverty to actualise SDGs. Limited resources, financial constraints, and a lack of awareness about cybersecurity risks contribute to the challenges faced by SMEs. However, the integration of AI-driven cybersecurity solutions offers significant opportunities. AI enhances threat detection capabilities, providing real-time analysis and rapid response mechanisms. Automation of routine tasks reduces the burden on limited resources and ensures a more proactive approach to cyber defence. AI solutions tailored for SMEs offer cost-effective options to bolster their cybersecurity posture. The article delves into case studies of successful implementation of AI-driven cybersecurity measures and explores government initiatives and support programs aimed at assisting SMEs in adopting these technologies. Collaborative approaches, information sharing, and employee training are crucial best practices for SMEs in navigating the evolving threat landscape. The article concludes by discussing emerging trends in AI-driven cybersecurity for SMEs and emphasizing their pivotal role in fostering sustainable business growth and resilience against cyber threats in Nigeria.

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