The landscape of Customer Relationship Management (CRM) is experiencing a major shift in 2018, thanks to the integration of cutting-edge technologies like artificial intelligence (AI), machine learning, and natural language processing. 

A report from IDC reveals that 28% of companies have already implemented AI in their CRM systems, while 41% are planning to adopt it within the next two years. According to IDC, AI’s role in CRM is expected to drive global business revenue by $1.1 trillion from 2017 to 2021. 

While concerns about AI replacing jobs persist, IDC forecasts that the technology will actually create 800,000 new roles in the future. Rather than replacing humans, AI enhances customer interactions and provides valuable insights into customer behavior. 

AI’s integration into CRM goes beyond automating mundane tasks and generating stock responses. It opens up opportunities for smarter lead generation and faster sales closures. For instance, AI can suggest relevant content to sales leads, optimize email scheduling, and identify potential upsell or cross-sell opportunities. 

One of AI’s most significant impacts is its ability to refine lead scoring by analyzing customer behavior and identifying leads with the highest conversion potential. This ensures sales teams focus on the prospects that matter most. 

In customer service, the rise of social CRM is helping companies meet the demand for faster response times. Chatbots on social media can handle simple inquiries, freeing up human support agents to tackle more complex issues. Additionally, these chatbots collect valuable customer data that can be used to enhance future interactions. 

AI-driven tools are also revolutionizing support ticket management by identifying trends and predicting which agent or team is best suited to resolve specific issues. Some systems even suggest standard responses based on the nature of the ticket. 

Recently, Microsoft introduced an AI capable of reading and responding to documents in a human-like manner. This technology can quickly parse through vast amounts of information and provide users with clear, digestible insights. 

Another area where AI is making waves in CRM is in summarizing customer interactions. Through natural language processing, AI can analyze long phone calls and distill key takeaways into concise summaries. These summaries are generated in real-time, allowing managers to quickly grasp the most important points without sifting through lengthy transcripts. 

To remain competitive, your CRM system must evolve alongside your company’s growth and the changing needs of your customers. By integrating AI and machine learning, you can gain deeper customer insights while boosting the efficiency of your sales, marketing, and customer service teams. 

Numerous AI-powered solutions are already available for Microsoft Dynamic 365 CRM integration, but it’s crucial for businesses to develop a strategy that aligns with their goals for CRM improvement. Additionally, AI requires ongoing training and management from experts to ensure it delivers optimal results, much like any other team member. 

Interested in learning more about how AI can elevate your business? Contact ECLEVA today, or explore our other insightful blog posts.