ANALYSING THE MAJOR DETERMINANTS OF IMPLEMENTING ARTIFICIAL INTELLIGENCE IN ENHANCING CUSTOMER RELATIONSHIP MANAGEMENT IN PRIVATE BANKING COMPANIES

Abstract

Technology advancements and the broad incorporation of digital practises into corporate operations have contributed significantly to the rapid development of customer relationship management during the last ten years. Because the firm's marketing activities have been using artificial intelligence (AI) to better understand its customers' shifting desires and requirements react more effectively to consumer enquiries, and deepen its connections with its clients, the company has been successful in reaching its goals. Automated responses to customer inquiries used to be monotonous and non-interactive; but, now that AI and other technologies are available, businesses are able to develop customised automation processes to enhance customer interactions and experiences. The abbreviation "Customer Relationship Management" (CRM) refers to a collection of computer software that is used to improve efficiency in dealing with customers and to boost sales.
 Artificial Intelligence (AI) is fast revolutionising how consumer enquiries are answered to within customer relationship management by examining wants and requirements, concentrating on developing unique customer interaction, and enhancing customer loyalty. This is being done within the context of Customer Relationship Management (CRM). The use of Artificial Intelligence (AI) in the workplace is fast becoming ubiquitous in the 21st century as an increasing number of businesses see its usefulness. The purpose of this empirical study is to investigate the key facets of AI that have an influence on Customer Relationship Management (CRM). The researchers intend to conduct their quantitative analysis using IBM SPSS, and a comprehensive report of their findings will be produced.