The Impact of Artificial Intelligence (AI) on CRM and Role of Marketing Managers
Abstract: Background- Emergence of artificial intelligence (AI) has transformed the dynamics of the business world. AI tools are changing the way marketers used to do business and these changes are so profound that it has become difficult for marketing managers to overlook the importance of investing in and adopting AI as an integral part of the marketing function. Companies which have implemented AI in their Customer Relationship Management (CRM) and marketing as a whole,have reported significant impacts on company’s growth in terms of customer loyalty and profitability. In recent years, we also witness emergence of specialized software and IT companies which are dedicated to produce customized marketing solutions and programs targeted at customer relationship management and marketing. They produce enterprise applications for marketing automation, analytics, and application development. Consequently, the role of marketing managers has also transformed and is expected to change even more in the future. This calls for further research, as the area appears to have received little attention in relation to its weight of importance. Aim- The main purpose of our thesis is to contribute to the literature of what changes have been introduced in the function of CRM as a result of AI integration and how these ongoing changes have affected the role of marketing managers. Results- The findings of the research show a connection that exists between the 3 factors, Artificial intelligence, CRM and role of marketing managers/decision makers. The ongoing changes that are occurring in marketing as a result of AI are not only limited to transforming the marketing function of business, it is rather consequently changing the way marketing manager make decisions and the way they interpret data. It is becoming increasingly essential for marketing managers to upgrade their skillsets and acquire sound technical knowledge in addition to deep understanding of marketing concepts. Contribution- The evolution of AI is impacting all areas of business and to harvest maximum benefits, adoption and change in all aspects is equally important. This study offers guideline to marketing managers for successful application of AI and its impact on the overall performance.
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