Book Title: AI Horizons – Exploring Multidisciplinary Frontiers (Volume 4)

Editors: Dr. Shweta A. Bansal and Dr. Charu Chhabra (PT)

ISBN: 978-81-984464-6-6

Chapter: 8

DOI: https://doi.org/10.59646/aihc8/305

Authors: Naveen Singh Rawat, Preeti

Abstract

This chapter offers a systematic overview of the field, highlighting gaps and offering promising directions for future research, considering the recent development of artificial intelligence (AI) and big data technology solutions in customer relationship management (CRM). The rapidly developing field of artificial intelligence is discussed, along with its significance for improving operational effectiveness and managing customer-related issues when utilizing different bank services and products. Put differently, by employing artificial intelligence technologies, banks can considerably more successfully accomplish four major goals: increased profits, at-scale personalization, quicker innovation cycles, strategic customer relationship management (CRM), and distinctive Omni-channel experiences. Artificial Intelligence (AI) is instrumental in the banking industry when it comes to operational efficiency. In other words, banks can achieve four key outcomes—higher profits, at-scale personalization, faster innovation cycles, strategic customer relationship management.

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