Artificial Intelligence in CRM | Analyzing Business Usecases and Benefits

Sanam Malhotra | 15th November 2019

The potential applications of artificial intelligence are bound to redefine the infrastructure of emerging and established businesses. Particularly, artificial intelligence in CRM (Customer Relationship Management) is beginning to impact sales and revenues with significant numbers. Today, AI development services are proliferating CRM ecosystems with virtual assistants, predictive engines, computer vision, and other intelligent solutions for optimum growth.

This blog post highlights some major and most valuable AI developments in CRM systems-

Virtual Assistants

Customer service is at the heart of successful CRM systems. However, in the face of dynamic customer demands, it is challenging for businesses to match customer preferences with personalized services.

Artificial intelligence has opened smarter and more cognitive pathways for businesses to interact with potential customers. Chatbots and virtual assistants are gradually becoming household names that are redesigning CRM process cycles in the following ways-

a) Handling routine customer queries, requests, and feedback is the first step towards achieving customer satisfaction. In addition, ML algorithms are powering CRM virtual assistants to manage and update large business contact databases and mailboxes.

shopping bot artificial intelligence
                                         Messenger Shopping Bot by Oodles in action

b) AI-powered virtual assistants are closely monitoring social media content and interactions using computer vision and natural language processing (NLP) technologies. It enables businesses to extract customer behavioral insights and target their services to the right audience with the right value attribution.

Also Read- Enhancing Customer Engagement with Conversational AI Chatbots

 

Lead Management and Automation

The ability of AI to analyze and streamline a company’s marketing strategy is becoming stronger with consistent algorithmic advancements. Today, machine learning models are channelizing big data and analytics to automate the following lead generating practices across CRM systems-

a) AI is poised to accelerate real-time personalized content targeting efforts across digital platforms. ML models increase lead generation by automating lead scoring tasks and analyzing Marketing Qualified Leads (MQL) and Sales Qualified Leads (SQL).

artificial intelligence in CRM

As predicted by Forrester, AI is strongly influencing customer relationship management across verticals.

b) NLP solutions can be trained to visualize contextual data about a lead to assist the manual follow-up efforts by an executive. Moreso, computer vision in CRM systems can generate real-time and accurate customer information to improve lead generation significantly.

Also Read- How Machine Learning Is Improving Business Processes

 

Predictive Analytics

Another key area within CRM systems where AI is replacing human intervention is forecasting lead conversions. Predictive analytics is the new way for businesses to determine which leads are the most likely to convert.

The underlying machine learning algorithms of predictive engines can process large datasets beyond human intelligence to strengthen the following CRM processes-

a) Risk Anticipation

With predictive engines, it is easier for businesses to track and identify specific behavior patterns that cause growth fluctuations. Timely risk management powered by neural networks supports cost reduction and minimal wastage for global businesses.

b) Customer Segmentation

Predictive engines improve marketing targets by analyzing data from various digital sources such as websites, social media posts, CRM databases, etc. It enables businesses to categorize customer preferences to recommend personalized products and services.

 

How Oodles AI is amplifying business growth with Artificial Intelligence in CRM systems?

We, at Oodles, extensively train machine learning models that cater to the industry-specific needs of your business. Our AI solutions for CRM extend as follows-

a) We power neural networks to analyze your business objectives, operations, and processes to build effective AI solutions that foster automation.

b) We boost business sales and revenues with AI-powered predictive engines that forecast prospects and market trends with accuracy and speed.

c) In addition, we recognize ourselves as AI-powered Chatbot App Development Company. We combine NLP technology with bot frameworks such as IBM Watson, Amazon Lex, etc. to enhance customer interaction and experience across verticals.

Talk to our AI development team to know more about Artificial Intelligence services.

 

About Author

Sanam Malhotra

Sanam is a technical writer at Oodles who is currently covering Artificial Intelligence and its underlying disruptive technologies. Fascinated by the transformative potential of AI, Sanam explores how global businesses can harness AI-powered growth. Her writings aim at contributing the multidimensional values of AI, IoT, and machine learning to the digital landscape.

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