AN EVALUATION OF THE EFFECTS OF THE FOURTH INDUSTRIAL REVOLUTION ON SALES GROWTH OF AQUACULTURE MSMEs IN LUSAKA PROVINCE OF ZAMBIA

Abstract

The purpose of the study was to investigate the utilisation of some 4IR technologies, namely, big data (BD), the internet of things (IoT), artificial intelligence (AI) and cloud computing (CC), among aquaculture micro, small and medium enterprises (MSMEs) and evaluate the effect of the 4IR technologies on sales growth with a view to developing a strategy that could be used to enhance growth in sales. A mono method quantitative study employing a survey questionnaire of 142 MSMEs in aquaculture in Lusaka was conducted. SPSS statistical package version 21 was employed in data analysis. Ordinal regression was used to model the study and it showed that the four models do not show an excellent fit. The Model Fitting Information and Goodness-of-Fit, was below the acceptable p value. The McFadden Pseudo value of R-Square of use showed improvements that were far lower than the acceptable value of 20% and the Parameter Estimates Pseudo R-Square values were less that the acceptable value, except for internet use which was greater than the acceptable value. Though the sales growth had increased, none of the independent variables were worth noting to be significant predictors of sales growth. The conclusion is that there are other determinants of increase in sales such as age, levels of education, etc and not solely new technology. However, if the new technologies were employed, MSMEs would accelerate their sales more than observed. Aquaculture MSMEs ought to embark on a cultural change of using traditional methods to adoption of new technologies if they are to exploit the market more than they are currently doing. This is the first kind of study looking at the utilisation of new technologies, big data, cloud computing, the internet of things and artificial intelligence among aquaculture MSMEs in Lusaka with a view to developing a strategy that could be used to enhance growth in sales