Artificial Intelligence Driven Customer Relationship Management: Harnessing the power of technology to improve business efficiency

Keerthan Raj; Dsouza Prima Fredrick; Channabasava Kurahattidesai; Chinmaya S Hegde

Author(s)

Keerthan Raj Shri Dharmasthala Manjunatheshwara Institute for Management Development, Siddhartha Nagar Mysuru – 570011, INDIA

Dsouza Prima Fredrick St Aloysius Institute of Management and IT, Mangaluru- 575022, India

Channabasava Kurahattidesai Shri Dharmasthala Manjunatheshwara Institute for Management Development, Siddhartha Nagar Mysuru – 570011, INDIA

Chinmaya S Hegde Shri Dharmasthala Manjunatheshwara Institute for Management Development, Siddhartha Nagar Mysuru – 570011, INDIA

Abstract

This paper investigates how the Artificial Intelligence (AI) has significantly affected Customer Relationship Management (CRM), with focus on the transformative potential of AI tools like chatbots and predictive analytics in transforming customerbusiness interactions. Companies that integrate chatbots can personalize their assistance 24/7, thus improving client involvement and satisfaction. Additionally, another benefit from predictive analytics, is, the successful interpretation of customers’ behaviour patterns and their future requirements to enable early or precise tailoring of the experience. It also strengthens the existing business relationship with the customers and makes business efficient and effective in terms of increased sales turnover and revenues. This study by applying the mixed method approach underlines the crucial role of management and clients’ centric approach in conditions of the intensified competition of the nowadays high-stake market environment. The research results show that the use of AI in CRM systems can be critically beneficial for a business since such a system can enhance customer experience and provide decision-makers with tools to enhance their understanding of consumer conduct and behaviours. Such competencies help companies increase their long-term performance on the market since they uncover the potential of AI in CRM. Altogether, the findings are highly competitive advantage by enriching customer interactions, uncovering deep insights into consumer behaviours and supporting better strategic decisions making. These competencies enable companies to strengthen their market position for long-term performance by revealing the true potential of artificial intelligence in CRM. The findings are highly beneficial as it brings forth insights into AI-powered CRM systems provide a clear roadmap for enhancing customer engagement and operational efficiency

Publication Details

Page(s) 58-65

DOI DOI not available

Published Journal: International Journal of Communication Networks and Information Security, Volume: 16, Issue: 4, Year: 2024

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Keywords

ChatBot, Customer Relationship Management, Artificial intelligence, predictive analytics

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