The potential of Artificial Intelligence & Mixed Reality for CRM
Talking wíth your phone, using a filter to smoothen up an Instagram post or Spotify that knows your taste in music: after years of buzz, Artificial Intelligence (AI) and Mixed Reality (MR) became an increasingly tangible part of our lives. But AI and MR only are of true value if they work for us and are relevant to us. And that has everything to do with the data that these applications are fed with.
The promise of AI
The promise of AI, is that machines are (much) better in making complex calculations than people. AI can independently learn (by retrieving and processing information), reason (drawing rule-based conclusions) and correcting itself, like Spotify who presents new music that suits your taste every week.
But there is an important note: AI must be fed with reliable and up-to-date data. For many companies that proves to be quite a challenge, but we’ll get to that later. The opportunities that AI offers companies are very promising. For example for sales professionals: AI can independently discover up sell opportunities, predict customer value and validate customer data.
Discover Weekly presents music to the taste of the user every week. Source: Spotify.
AI for CRM
Getting more results from customers and data is especially applicable in CRM. AI for CRM uses the data in CRM to make calculations and validate information. Such as Salesforce, where Einstein checks a customer’s contact details, so that the sales rep is certain that he is calling the right person. He also verifies the customer’s profession and updates the sales rep with the actions the customer has recently taken, such as downloading a white paper.
Einstein checks and validates customer data to help sales reps be more successful. Source: Salesforce.
The two biggest challenges in AI: Corporate culture and lack of data or poor data quality
Unfortunately, starting with AI is not that easy. O’Reilly investigated the issues companies encounter when implementing AI. After recognizing the needs for AI, the biggest problem is that a lack of data or low data quality does not allow starting with AI. Companies experience a fundamental problem. They must first manage their data before they can start with AI.
A lack of data or low data quality is limiting to companies who want to implement AI. Source: O’Reilly.
So data management is key, but who takes the responsibility?
If you want to start with AI, you have to manage your data. But which department takes responsibility? Sales often has no time to update customer data, finance must then look up information itself to send the invoice and compliance relies on multiple sources of information when onboarding new customers. The paradox is that departments desire the same data, but are looking at each other to take responsibility.
That is why we have developed Olbico Master Data Platform: a solution that cleans up CRM, enriches it with global business information and then monitors the data 24 hours a day. This way, companies always have up-to-date, validated business data without anyone having to update CRM manually.
That rises the next question: how can all that data be presented in an attractive and distinct manner?
Visualizing AI with Mixed Reality
AI may be a real math wonder, the way it presents it results is a bit dreary as you saw with the customer card in Einstein. This can be much more attractive and better too with Mixed Reality. Mixed Reality is an experience that merges the physical and digital world. The physical and digital world literally come together and the user can control this world. You will need VR glasses for this, such as the Microsoft HoloLens.
An example where Mixed Reality is used in business is Ford. Ford designs their cars in 3D, but the design is limited to the size of a computer screen. Thanks to Mixed Reality, Ford can project the design on a full-scale physical chassis of the car.
Ford uses Mixed Reality when they design a new car. Source: YouTube.
CRM in Mixed Reality
Mixed Reality can mean the world for CRM, too. At the moment, there is no CRM that offers Mixed Reality. That is why Olbico took a stand and explored the possibilities of Mixed Reality for CRM with Microsoft HoloLens.
Going from a dreary dashboard to a smart, interactive assistant
If you ask Olbico, CRM shouldn’t deliver dreary dashboards. Instead, it can be an intelligent, proactive system that has a central rol in an organization. It is a smart assistant that independently discovers opportunities and threats and presents them graphically. A unique experience is created in which you immerse yourself in the customer situation. Talking about a 360-degree customer profile.
Are you curious to know how a CRM in Mixed Reality looks like? Watch our video The Future of CRM in Mixed Reality.
Olbico – The Future of CRM in Mixed Reality. Source: YouTube
Experience CRM in Mixed Reality yourself
Do you want to experience CRM in Mixed Reality yourself through the eyes of Microsoft HoloLens? We are happy to provide you with a free demo at our head office in Amsterdam. Book a day and time yourself via a demo request or send us a message.
The Microsoft HoloLens at the Olbico head office.