We can provide main reasons for integrating AI into CRM
The increasing volume of unstructured data that is unfeasible to process without AI / Machine Learning.
With the growing amount of transactions, the size of customer data also increases. This increase can help businesses understand their customers better, as they can process more information about them. However, it also means that they need to work more to extract relevant information because the majority of the data remains unstructured. While it is challenging to understand unstructured data, which constitutes around 80% of the total data, AI tools can convert unstructured data to structured data.
After converting to structured data, machine learning algorithms can detect patterns and provide vital insights for businesses. Considering the growing amount of data, AI technology offers scalable solutions for companies and enables them to handle the highest volume of data and with fewer errors.
The increasing complexity of relationships.
Besides the growing volume of data, the business processes and relationships also become more complicated with the increasing transactions. This complexity makes it harder to understand company relationships and analyze customer patterns accurately. Sales representatives spend over half of their time in CRM trying to manage CRM tasks more effectively. AI technology can easily surpass this challenge by automating most of these tasks and offering valuable insights.
The advances of AI enable this technology to be integrated into the CRM, and these are becoming more preferred by businesses.
The impact of AI in CRM tools is observed better as processes become more complex, and the amount of customer data increases.
82% of sales teams are not satisfied with their CRM. This is due to manual tasks performed in processes or difficulty in using CRM tools. Thus, the integration of AI might help businesses improve their CRM processes.
Here are the main AI use cases integrated into CRM
Lunar Softwares Ai is a Data Science company, based in Mumbai delivering Artificial Intelligence, Machine Learning and Full Stack Development solutions to drive business outcomes for start-up, scale-up or a corporate organization.