AI-Powered CRM and its Impact on Organizational Performance and Competitive Advantage
Muskaan Chhabra
Guide: Prof. Dr. Astha Gupta
AMITY INTERNATIONAL BUSINESS SCHOOL, NOIDA
AMITY UNIVERSITY, UTTAR PRADESH
Abstract
Artificial intelligence (AI) has revolutionized the field of customer relationship management (CRM), offering organizations new opportunities to improve their organizational performance and gain a competitive advantage. This research paper explores the impact of AI-powered CRM on organizational performance and competitive advantage by analysing quantitative data. A comprehensive literature review is conducted to examine the key concepts, theories, and frameworks related to CRM and AI, and to analyse how AI is being utilized in various industries and organizations. The paper discusses how AI-powered CRM can enhance organizational performance by improving customer engagement, personalization, and retention through advanced data analysis, predictive modelling, and automation. It also explores how AI-powered CRM can contribute to gaining a competitive advantage by providing organizations with insights into customer behaviour, preferences, and needs, and facilitating innovation, agility, and responsiveness. However, the paper also highlights potential challenges and limitations associated with AI-powered CRM, including issues related to data privacy, security, bias, and human-machine collaboration. The findings of this research suggest that organizations need to carefully consider the benefits, challenges, and ethical considerations of AI-powered CRM in order to effectively leverage its potential for enhancing organizational performance and gaining a competitive advantage in today's dynamic business environment. Further research and best practices are recommended to guide organizations in implementing and optimizing AI-powered CRM strategies.
Keywords: AI-Powered CRM, AI (Artificial Intelligence), CRM (Customer Relationship Management), Organizational performance, competitive advantage, sales, marketing, software
