Leveraging Generative AI for Enhanced Customer Relationship Management: Transforming Customer Interactions and Personalization in CRM Systems

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@article{1706231,
      author = {Ravi Teja Potla},
      title = {Leveraging Generative AI for Enhanced Customer Relationship Management: Transforming Customer Interactions and Personalization in CRM Systems},
      journal = {Iconic Research And Engineering Journals},
      year = {2024},
      volume = {8},
      number = {3},
      pages = {18-33},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1706231.pdf},
      abstract = {With CRM, generative AI is in a position to actually revolutionize the ways of customer relationship management. It alters how companies would communicate with their customers and personalize experiences for them. The essay investigates deeper into generative AI as it integrates into CRM, focusing on how it enhances communication channels, customer interaction, and repetitive chore automation. Generative AI includes advanced NLP and ML capabilities that fuel real-time, contextually relevant interactions that considerably improve productivity and customer satisfaction in customer service. The generative AI system will therefore conduct very personalized content, offers, and recommendations with the use of rich data about customer behavior, hence fully enrich the overall customer experience, continuously leading to a higher level of brand loyalty. The pragmatic applications of generative AI in CRM with respect to hyper-personalization and the execution of repetitive activities in automation are discussed in the paper. Though AI-driven chatbots, virtual assistants, and predictive analytics keep on evolving, in my essay I explained how customer engagement would be effective and empathetic. It proceeds further to discuss certain ethical issues. Concerns regarding data privacy, bias from AI, and the need required to strike a balance between automation and the development of customer empathy get churned out. This becomes necessary for maximum productivity of AI-driven CRM, keeping in view customer rights. From this perspective, generative AI can have huge potential to drive CRM techniques up the ladder for next development. IoT and blockchain coming technologies are expected to further enable personalization and frictionless interaction. Thus, the AI-driven CRM system will be able to capture the strategic benefits by considering technological advancement, ethics standards, and consumer trust.},
      keywords = {Generative AI, Customer Relationship Management (CRM), Personalization, Natural Language Processing (NLP), Machine Learning, Customer Engagement, Automation, Data Privacy, Ethical Considerations, Predictive Analytics, Hyper-Personalization, Virtual Assistants, Chatbots, Customer Data Management, AI Integration, Emerging Technologies.},
      month = {September},
  }