AI-based CRM will be a $1-trillion Pie by 2021, says IDC

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Customer relationship management (CRM) activities powered by artificial intelligence will add $1.1 trillion to global business revenue by 2021, market intelligence firm IDC said in a recent report. In a bid to stay ahead in the game, Salesforce, the company known for disrupting the CRM industry, launched Salesforce Einstein last year, an AI-powered platform to make Salesforce a smart CRM.

Global CRM providers from India, including Zoho and FreshWorks, are also investing in building product lines around AI and analytics to match up to global rivals. Zoho has about 150 employees working on Zia, an AI-powered sales assistant that it launched in February. FreshWorks, earlier known as Freshdesk, a maker of customer engagement software, has also set up a highly experienced team to build an AI platform and integrate it with all of its products.

 “We have integrated Zia with our CRM product,” said Mani Vembu, chief operating officer at Zoho. He said the company’s AI platform will soon be integrated with its help desk product, followed by other products, to integrate Zia with its entire suite of enterprise-based offerings.

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