Enhancing customer experience, engagement, value creation, and loyalty through artificial intelligence and machine learning in CRM

Abstract

The digital interactions have undergone an exponential trend that has fundamentally shifted the customer relationship management (CRM) systems, and advanced technological interventions are required to handle the more intricate expectations and behavior of the customer. The conventional CRM strategies are unable to handle large volumes of unstructured customer information, forecast subtle behavioral patterns, and provide personalized experiences at a large scale to generate lower customer satisfaction and loyalty. This is a broad literature review on the impacts of machine learning (ML) and deep learning (DL) in revolutionizing CRM practices in increasing customer experience, generating sustainable value, engaging, and gaining long-term loyalty. This paper is a systematic review conducted by relying on the PRISMA methodology to gather and analyze the current research. As it has been shown in the review, ML and DL technologies such as natural language processing, recommendation systems, predictive analytics, and sentiment analysis began to have impressive advantages in terms of the accuracy of customer segmentation, the ability to predict churn, lifetime value estimation, and personalization strategies. More so, incorporation of generative AI, federated learning, and explainable AI models is the next innovation in the development of transparent, privacy and ethically sound CRM systems. The study reveals that there are important gaps in the existing literature about the concepts of real-time emotion recognition, cross-channel behavior synthesis and sustainable AI implementations, and proposes the opportunities in edge computing integration, quantum machine learning applications, and neuromorphic computing to optimize CRM.