The Impact of AI on CRM - Insights from a Business Model Canvas Perspective

Rapid and complex technologies development may have a disruptive effect on existing paradigms of doing business. Successful customer relationship management as one of the key levers for sales productivity, includes among others, trustworthiness in delivering expected value proposition, transparency in collaboration, truthful and safe information exchange in acquisition of new customers, optimizing customer retention, designing and maintaining proper communication channels and ensuring effective process scenarios – all of them impacting the overall customer experience, but at the same time very strongly impacted by technologies. One such impactful technology is, based on its current pace of development, Artificial Intelligence (AI). Considering its game-changing role, AI tools offer to redefine communication landscapes, introducing benefits but also risks in shaping the relationships with customers. Meanwhile, while rethinking and innovating new value creation models for customers, businesses rely on well-known frameworks and approaches in designing alternatives for customers. Business Model Canvas, being one of those structured approaches, can be a useful perspective for experimenting with AI in order to gain insights on how AI can impact customer relationship management in terms of collaboration, analytics and operations.