Artificial Intelligence and Internet of Things: Revolutionizing the implementation of Customer Relationship Management

Abstract

Customer centricity is a buzzword today, and organizations use the Customer Relationship Management (CRM) system to practice the same. Using technologies like Artificial Intelligence (AI), and the Internet of Things (IoT) with CRM systems has enabled organizations to be in continuous touch with customers, track their movements, collect data to analyze their buying patterns, product usage patterns, and most importantly analyzing why customers shift loyalty. Implementation of AI and IoT has changed the whole concept of CRM, making it a real-time data analytics tool. With the increased usage of internet services and intense competition among organizations, the key to success would be the ability to predict customers' moves before they even make the same. This qualitative study's objective is to find how AI. Machine Language (ML) as a subset of AI, and IoT has changed the way industry uses CRM systems with the help of a live industry case. Based on the study, the authors have proposed a model also which can be empirically tested.