Despite having origins rooted in myth and fiction, rapid technological advancements over a short time period have rendered A.I. anything but. The 21st century especially witnessed a huge influx of interest, investment, and development in Artificial Intelligence. The rise of superior computing power, advanced algorithms, and cost-effective data storage capabilities can all be attributed to this A.I boom but perhaps one of its most significant drivers is big data.
For the uninitiated, Artificial Intelligence is when machines are able to simulate human intelligence and carry out tasks that require it without any human intervention. These include but are not limited to the perception of vision and speech, motion, learning, and reasoning to make decisions.
What is Artificial Intelligence?
A.I. surrounds us and we interact with it all the time, sometimes without even realizing it. On the internet, not only does it help us find the content we desire but also enables desirable content to find its way to us. It resides within our phones listening to our commands, deciphering our intentions and determining the answers to our queries. It makes our homes smarter, safer and more hospitable.
Artificial Intelligence in Business
Artificial intelligence has endless applications in business and is transforming the economy. Many companies have seen high growth by implementing AI in business through automation and leveraging data analytics. The role of artificial intelligence is not limited to workflows as artificial intelligence in business communication as revolutionized customer experiences. Most top business software are now powered with AI which has also increased the demand for the best AI-powered CRM. Hence, companies using AI are already a step ahead of their competitors.
CRM and Artificial Intelligence
CRM is a treasure trove of pristine and useful data that A.I. can thrive on. The more organized your data and the more streamlined your data acquisition processes, the better. You will be able to connect with your customers on a whole other level and make informed decisions based on the most up-to-date data. The implications and benefits of A.I. for your business are manifold.
Let’s go over these categorically to determine how artificial intelligence for small businesses can level-up your company.
AI and Sales
Imagine dedicating your valuable time and resources into a lead that was dead on arrival. Frustrating, isn’t it?
In such a situation, AI-powered CRM can prove to be a game-changer. CRM analytics powered by A.I. can help you leverage predictive lead scoring to classify accounts based on their probability of conversion.
Moreover, an AI-driven CRM will also provide insights into the factors that yielded such segmentation in the first place. This will enable you to identify serious buyers and build stronger connections with your customers by tapping into data from past interactions and similar leads. This shows that the future of artificial intelligence in business is bright and will change how companies function.
AI and Marketing
Artificial intelligence in business can help marketers tailor highly personalized experiences for their customers.
An AI-based business software will make your team more proactive in their endeavors and will open up possibilities for campaign optimizations based on real-time website visitor analysis. This way, your team can engage the customer at the right time with the right content by leveraging artificial intelligence and business management within your CRM platform. Hence, with AI-driven CRM, you will be in a better position to persuade your customers.
Moreover, artificial intelligence and CRM lets you analyze the abundant customer data available across social channels in real-time. You can also gain a deeper understanding of your customers and how they perceive your brand with AI-based CRM. Your team can also predict the success of their marketing initiatives and campaigns, and learn ways to refine them. Hence, all these applications increase the need for artificial intelligence in business.
AI and Customer Service
With A.I. you can anticipate a customer’s needs without them ever having to pick up the phone.
An A.I. driven CRM can actively and constantly monitor your customers’ status and can automatically trigger events. It can also notify the right person based on these statuses, effectively eliminating any chances of a help-seeking customer slipping through the cracks.
Moreover, AI-based CRM will empower customer service reps by providing them the right intel at the right time. It also allows your customer service team to respond to customer queries in a more informed fashion.
No wonder, artificial intelligence in business decision making plays a crucial role. With CRM and artificial intelligence, you can get all the data and predict customer behavior to have a proactive approach.
An Example of AI-Powered CRM
If you find the prospect of an AI-driven CRM enticing, you need not look any further than Salesforce Einstein. Salesforce Einstein is the first comprehensive AI for CRM, designed to help every business be smarter and more predictive about their customers.
Powered by machine learning, deep learning, predictive analytics, natural language processing, and data mining, Einstein is infused across the entire Salesforce Customer Success Platform.
Big Data and AI
Businesses today are leveraging big data to understand customer behavior and preferences in efforts to formulate improved strategies. However, presently less than 0.5% of all data is being analyzed and used (Forbes). This presents a huge opportunity to capitalize on this ‘wasted’ data by developing advanced analytical techniques based on artificial intelligence. This union of big data and A.I. is very likely going to have a huge impact on the future by enabling businesses to derive more value from their data.
The Bottom Line!
By changing the nature of work and creating a new relationship between man and machine, A.I. could double annual economic growth rates in 2035 and boost labor productivity by 40% (Accenture).
The rise of AI presents businesses with a wide array of unique benefits and opportunities. It can empower them to provide better, more relevant experiences to their customers and forge bonds with them in a way that was simply not possible before.
Rolustech is a SugarCRM and Salesforce Certified Developer and Partner Firm. We have helped more than 600 firms with various CRM integrations and customization. Contact us today for your FREE consultation session. We will be happy to assist you!