CRM vendors are increasing their investments in AI technology and making it available in their CRM platforms to support decision making and to trigger actions.
AI encompasses machine learning and deep learning as well data science methods. It is closely linked to the field of data analytics.
AI is about thinking machines. Data is ingested and patterns are detected using statistical models. These patterns can be used to predict behaviour and a host of other outcomes.
These benefits include predictive scoring (lead scoring), forecasting (predict future revenue), recommendations (for cross sell purposes) and early warning systems (for retention). In other words, AI will eclipse what generic algorithms offer, will enhance salespersons’ intuition and will intelligently monitor customer activities.
Other benefits include chatbots, virtual customer assistants, intelligent social media monitoring and automatically logging customer interactions.
Having made the investments the software marketing machines are kicking into high gear so there is an element of hype. However, the benefits for successful early adopters could be significant so be on the look-out for opportunities to experiment with the ever-expanding and quickly maturing AI toolset.
Finally, as always, as with all things CRM the quality of the data will make the difference between a mediocre outcome and a great outcome.
CRM (Artificial Intelligence) AI vendors and tools include:
- Conversica – automated sales assistants
- Introhive – data automation and sales acceleration
- Salesforce.com Einstein – AI built into Cloud products
- DigitalGenius – automate customer service
- Microsoft Cortana – marketing, sales and service analytics solutions