What is CRM Artificial Intelligence and What Can It Do for My Business?

Written by Steve Chipman – CRM Switch

Before ChatGPT came along, CRM vendors had started to embed artificial intelligence in their apps.

Customer Relationship Management software vendors have touted AI for several years, but it has not yet been as revolutionary as in other areas, such as content marketing or code debugging.

So, how does AI apply to CRM software?

According to the 2022 CRM Impact Report, the most adopted use cases for AI are

  • Automated emails
  • Account intelligence
  • Conversational AI
  • Lead conversion
  • Opportunity close prediction

CRM And Artificial Intelligence

Combining generative AI with CRM allows companies to automate business processes better, develop more personalized communications, and provide customers with the most helpful answers to questions.

In CRM systems, generative AI is designed to be assistive to humans, not work unattended.

At its core, CRM AI helps businesses better organize customer information and access that information more easily. This includes contact details, demographic data, communication history, purchase history, and other pertinent data used to build sales opportunities and better serve customers.

With this intelligence, companies can create finely tuned segmentation of leads and contacts to nurture better relationships with prospects and customers.

Additionally, AI can help businesses respond faster to customer inquiries and provide more informed answers to requests.

On the sales side, CRM with embedded AI gives users things like:

  • Predictive lead scoring
  • More accurate sales forecasts
  • Recommendations
  • Natural language search
  • Data entry automation
  • Automatically generated follow-up emails

Intelligent case routing may be a coming AI feature on the customer service side.

The goal of artificial intelligence in CRM is to let AI handle the analysis and make intelligent recommendations about a customer or prospect based on all the data about that person the system has collected.

With AI, a salesperson can open a contact record and ask the system for suggestions on how to best connect with that person without spending time sifting through company news and LinkedIn or X profiles.

Unlike the generally available ChatGPT, CRM vendors’ application of generative AI should be anchored on trusted customer data to guard against abusive use of the technology.

Do You Need CRM With AI?

Do you need artificial intelligence in your CRM system, or is it functionality that won’t provide real value?

As with most things, the answer will depend on your business’s unique situation and requirements.

Organizations already using the full power of their CRM system will likely find a lot to like about AI integration.

On the other hand, companies struggling with basics like CRM adoption may find AI tools unnecessary for the time being.

The more data your business collects about prospects and customers, the more use you will get from a tool built to analyze that data, provide helpful insights, and make timely recommendations.

You can expect the flurry of AI announcements from CRM vendors to continue in 2024.

Only time will tell the most effective, real-world applications of machine learning and AI in CRM.

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About TimeLinx
TimeLinx delivers innovative project & service management software as a complete solution that perfects the sell-track-manage-support-bill cycle that services organizations must have to delight their customers; TimeLinx brings the cycle together in a single application that offers less frustration, better project management, complete reporting, and improved profitability – all specially designed for Infor and Sage.