Artesian Blog

Posted on Sep 20th 2017   |   by

The Impact of Artificial Intelligence on Customer Relationships

The Impact of Artificial Intelligence on Customer Relationships

When it comes to Artificial Intelligence (AI) do you believe in the possibilities or the perils?

According to McKinsey Global Institute (MGI), AI is contributing to a transformation of society happening ‘ten times faster and at 300 times the scale, or roughly [with] 3,000 times the impact’ of the Industrial Revolution.

But, are you like Bill Gates and believe that AI is the holy grail of computer science, or do you empathise more the likes of Elon Musk, believing that we’re summoning the devil?

Only time will tell which of these opinions will be the closest to our future reality. But if you’re sceptical that AI systems will become trusty sales and marketing companions, that it will indeed successfully replace human interaction, or that it will deliver a return on the substantial investment required for true disruptive business transformation, then here are couple of big ticket statistics that might just change your mind:

  1. Insight-driven businesses using more advanced technologies will steal $1.2 trillion per annum from their less-informed peers 1
  2. By the end of 2021, global business revenue will increase by $1.2 trillion as a result of AI-integrated customer relationship management (CRM) system 2

But what do these mean in real terms, how will AI really make a difference to your business and customer relationships?

Larry Page has been quoted as saying that Artificial intelligence would be the ultimate version of Google – the ultimate search engine that would understand everything on the web, understand exactly what you wanted, and give you the right thing. Surely if you’re in the business of customer relationship management then that is indeed the holy grail. Frictionless access to the most commercially valuable insights (both quantitative and qualitative) in the most intuitive and natural ways possible: ask a question, get an answer; prompt an action, get a response.

When humans find a natural way of interacting with machines, suddenly everything gets easier. For you, this means instant access to the highest-value information – golden insights that improve understanding of the customer or prospect and their drivers at any given moment.

This could not be more important than at a time when:

  • 89% of business buyers expect companies to understand their needs and expectations 3
  • 79% of your time has shifted focus to anticipating customer needs 4

but…

  • 80% of your day is spent sifting through data to qualify leads, leaving only 20% to focus on closing deals 5

Love it or loathe it, the fact is it’s impossible for B2B teams to ignore AI as it continues to evolve and have a real impact on customer relationships.

The Artesian of the possible

Artesian is making it possible to take advantage of pioneering Artificial Intelligence technology, helping client facing teams – sales, relationship managers, account managers, marketing – uncover new opportunities and exploit endless possibilities through the power of data.

To learn more, download our new whitepaper ‘Five Ways Artificial Intelligence Will Change Relationship Management’.

How AI will Change Customer Relationships

 


1. Forrester, ‘Predictions 2017: Artificial Intelligence Will Drive The Insights Revolution’,
https://www.forrester.com/report/predictions+2017+Artificial+Intelligence+Will+Drive+The+Insights+Revolution/-/E-RES133325

2. Huffington Post, ‘2017 STATE of MARKETING – AI is Highest Tech Investment Growth’,
http://www.huffingtonpost.com/entry/2017-state-of-marketing-ai-is-highest-tech-investment_us_593eea47e4b014ae8c69e2fd

3. Salesforce, ‘3 Steps to Transform Your Business for the Age of the Customer’,
https://www.salesforce.com/blog/2017/07/3-steps-to-transform-your-business.html

4. SalesforceIQ, ‘3 Inside Sales Lessons Learned From Top Teams: Adaptability, AI and Analytics’,
https://www.salesforceiq.com/blog/3-inside-sales-lessons-learned-from-top-teams-adaptability-ai-and-analytics

5. CRM Magazine, ‘5 Sales and Marketing Problems AI Can Solve’,
http://www.destinationcrm.com/Articles/Web-Exclusives/Viewpoints/5-Sales-and-Marketing-Problems-that-AI-Can-Solve-105662.aspx


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