“The development of full artificial intelligence could spell the end of the human race.” - It’s been only six years since Stephen Hawking, the mastermind who taught us about black holes and the mysteries of the universe, made this statement. We cannot decide if he was right or wrong as of yet, but we know that AI is the future, and it has more applications than we thought it had a decade ago.

AI’s development from being merely a concept in science fiction books to using it in our day-to-day lives happened in less than seventy years. Alan Turing, a British mathematician, was the first to make human beings believe in machines that can think in the 1950s, through his paper ‘Computer Machinery and Intelligence.’ However, his findings did not advance since computer storage was limited back then.

Until the 2000s, we were thinking more about what could go wrong than what could go right in an AI-powered world. Movies like Terminator and 2001: A Space Odyssey, people like Bill Gates and Stephen Hawking - there were too many warnings against AI, but only a few talked about the possibilities it offers. Interestingly, things have taken a turn, and Microsoft, the company founded by Bill Gates, is one of the leaders in AI technology today. AI is now making our lives easier in the form of home improvement technologies, search engines, e-commerce recommendations, smartphone apps, virtual assistants, and fitness trackers.

Powering up cloud technologies and CRM

Artificial Intelligence has broader applications when it comes to cloud technologies and Customer Relationship Management systems. The latest advancements have accelerated the growth of cloud tech and have made CRMs more effective in driving quality leads and providing a rich customer experience. Here are a few ways how AI is transforming businesses through cloud tech and CRMs.

More insights, better decisions

A wrong decision can collapse a business, but the fate of Nokia has taught us that not making decisions at the right time can also collapse a business. In the CEO’s own words, Nokia didn’t do anything wrong, but somehow they lost. Their products were great, and they had a loyal customer base, but they weren’t able to catch up with the changing customer interests.

AI can extract information, patterns, and insights by analyzing large volumes of data within seconds. Since AI is always learning from the new data, the insights will keep improving with each additional data collected, helping businesses understand the customers, markets, and the areas to focus on more accurately.

Besides, who wants to spend hours analyzing big data and trying to understand what is going on when AI can do it better in less time?

Error-free, accurate analysis

Precise and accurate data analysis is the key to better decision making. The traditional cloud computing methods use data as an input, and they structure it manually for more accessible analysis. On the other hand, the AI also uses data as the input, but the analysis is done by itself, providing insights as the output. It gives the best recommendations based on the historical data and the present patterns, nullifying the possibilities of human error. 

Improved Predictions

If you have been running a business, you know that even a slight mistake in analysis can cause a significant error in the forecasts. Several factors have to be considered when forecasting future sales and trends, and getting it right needs an in-depth analysis of the historical data and complex probability functions. Unfortunately, as the business gets bigger, the forecast only gets harder.

AI is transforming predictions and sales forecasts by extracting trends and insights that would remain hidden to the human eye. It learns from the large volume of data by examining the trends in different cases and provides forecasts based on the findings. The results are obtained faster and are more precise and accurate than the predictions made using traditional computing methods.

Security automation

AI can also keep your data and business tools safe from cyberattacks by identifying and blocking suspicious activities. The latest AI security algorithms are highly effective in processing information on the cloud and detecting anomalies and inconsistencies on time. It will block unauthorized access and prevent the entry of potentially unsafe code into the system.

Combining AI and Machine Learning with the latest security systems such as gateway security and endpoint protection can provide a highly secure environment for Cloud CRM.  Along with enabling two-factor authentication, the security will only get better since AI keeps learning all the time.

Analyzing customer sentiments and emotions

Understanding the customers’ sentiments and emotions can help businesses offer better service and personalized recommendations. CRM systems can now analyze the word choice, tone, and voice to understand the customer’s emotional state and provide real-time guidance to the agents, improving the chances of ending up in a closed sale. 

The CRM system powered with AI will tell agents to slow down, lower their voice, use specific words or tone, or even say sorry to provide the experience that the customer will be happy about.

Virtual assistants and AI chatbots

Chatbots were present even before Artificial Intelligence became popular, but it was based on keywords. The customer would type in their question or request, and the chatbot will provide an answer based on the keywords present in the text.

AI has innovated chatbots, and they are now capable of replacing customer support, especially live chat support, to some extent. AI-based chatbots can handle pre-sale questions, just like skilled marketing professionals, to improve the chances of making a sale. Customer support teams now use AI to manage simpler questions and dedicate themselves to more complex technical support requests, probably until AI algorithms tackle that too.

Follow-up with leads and identify opportunities

AI may not be ready yet to replace customer support and marketing agents, but the latest advancements in CRM systems tell us that it might happen in the near future. As of now, CRMs can identify the time to call, phone number, purchase criteria, and feedback through emails and usage trends, and notify the agents of sales opportunities based on customer’s usage trends.

Artificial Intelligence is transforming cloud tech by automating and improvising different areas that were handled by us earlier. It helps businesses make better decisions through accurate insights and provide personalized, rich, and meaningful customer experience through CRM systems. Being at its early stages of research and development, the future of AI-based cloud tech and CRMs may see more automation, better insights, and even better customer journeys.

A new cloud-based CRM system, SkyQuota is leading the way by automating marketing and sales processes through Artificial Intelligence. It is a great tool to track, close, and analyze leads while driving them through automated custom sales processes.