Impact of Artificial Intelligence on Customer Relationship Management

Authors

DOI:

https://doi.org/10.33422/meaconf.v2i1.914

Keywords:

Artificial Intelligence, Customer Relationship Management, Retail Banking, Data Agility

Abstract

The study "Impact of Artificial Intelligence on Customer Relationship Management" explores the transformative role of Artificial Intelligence (AI) in Customer Relationship Management (CRM) within Portugal’s banking sector. Employing a case study methodology, the research examines AI adoption across five leading banks through 50 semi-structured interviews with middle and senior management. The findings underscore AI's potential to revolutionize CRM by enhancing customer interaction, process automation, and data-driven decision-making. However, challenges persist, particularly in data agility, as many institutions lack the infrastructure necessary for efficient data utilization—an essential component for effective AI implementation. Trust in AI providers is another critical factor, with security, compliance, and data management capabilities heavily influencing vendor selection. This study proposes a diagnostic model to assess AI-CRM adoption stages, emphasizing the prerequisites for success: robust data management, organizational readiness, and employee training. Practical recommendations include fostering partnerships with trusted AI providers, ensuring data quality, and building internal capabilities. The research highlights the immediate need for banks to address these challenges to maximize the benefits of AI-driven CRM. The paper concludes with a call for future research to expand the scope of analysis, including diverse banking institutions and other sectors, to validate and enhance the applicability of the findings. By addressing these gaps, organizations can unlock AI’s full potential to deliver personalized, efficient, and secure customer relationship management.

Author Biographies

Rui Murta, IPAM Lab and IPAM Lisboa, Estrada da Correia 53, 1500-210 Lisbon, Portugal

Rui Miguel Martins Murta da Costa is a Doctoral Candidate in Management at Universidade Europeia and serves as the Director of Consumer Credit within the Retail Marketing Department at novobanco. Since 2013, he has also pursued an academic career, teaching at Coimbra Business School | ISCAC, IPAM, and Fundação FEFAL. He is the Coordinator of the Postgraduate Program in Artificial Intelligence for Marketing & Sales and the Postgraduate Program in Commercial and Sales Management at Coimbra Business School.
He holds a Bachelor's degree in Business Management with a specialization in Marketing from ISCAC and a Master's degree in Marketing from ISCTE. His master's thesis focuses on marketing strategies for acquiring customers through cross-segment channels. In 2023, he earned the title of Marketing Specialist from IPAM.
His areas of interest include Marketing, Management, Consumer Credit, Cross-Buying, Open Banking, and Artificial Intelligence applied to Marketing.

Victor Santos, Rui Murta, and Victor Santos Polytechnic Institute of Coimbra, Coimbra Business School | ISCAC, Quinta Agrícola – Bencanta, Coimbra, Portugal

Adjunt Professor at Coimbra Business School | ISCAC, Instituto Politécnico de Coimbra
Collaborator at REMIT - Research on Ecomomics, Management and Information Technologies / Universidade Portucalense Infante D. henrique

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Published

2025-03-12