Artificial intelligence tools for enhancing customer experience

Abstract

Customers are the key to any business and the major challenge for any established business is retaining an existing customer and acquiring a new customer. One of the many ways to reduce the churn rate and increase customer retention is to improve the customer experience. As businesses are growing, their customer base is also increasing. Each and every customer is different and needs different kind of motivators to engage with the business and hence we need to understand each and every customer uniquely. Artificial Intelligence tools can blend the gap between the business and the client, creating enormous information that can prompt further comprehension of the client’s preferences. Understanding these artificial intelligence tools and how these tools can assist organizations with retaining clients and help them give better involvement to their clients is significant. However, in academic research this significant research area stays under-focussed. Hence this study tries to address this gap by proposing a conceptual model for understanding how the Artificial Intelligence tools are can help in enhancing customer experience. The narrative literature review approach has been adopted for conceptualization of the model. The study provides implications to practitioners for designing and developing AI tools such that they enhance customer experience, to managers for designing the information technology strategy of their companies, to academicians as it helps explore new technologies in the marketing domain and to the society as it will help improve customer experience thereby leading to customer satisfaction.