How US Companies are Using AI to Optimize Customer Retention

Has evolved tremendously during the last several decades. Automated communication between businesses and customers is becoming more prevalent (Bitner et al., 2000; Ostrom et al., 2015). Initially, automated customer contact management systems provided automated notifications and responses (Dysart, 1999). Artificial intelligence systems are growing more complex (Van Doorn et al., 2016). Automated technologies seek to imitate human functions, increasing the complexity of customer contacts and interactions for businesses (Boden, 1977). Customer relationship management is based on a database that contains socio-demographic information (age, gender, income level, education), past interactions (complaints, offers, responses), and purchase history (Wiernega & Van Bruggen, 2009).

Data is used for a variety of objectives, including anticipating client responses 

To new offers and retention. However, there is little research on the impact of AI on marketing, emphasizing the significance of this field. Parise et al. (2016) investigated how real-time services and virtual assistants can help overcome the 'crisis of immediacy'. Bradlow et al. (2017) investigated the use of data for predictive analysis to optimise pricing and achieve desired results. Customer relationship management frameworks offer a lifecycle approach to managing client relationships, allowing for hypothesis testing. Hopskin (2018) defines CRM house elements as attract/acquire, retain/maintain, enhance/develop, and terminate, each with its own AI application. These 'CRM home elements' are significant because they seek to improve customer experience through effective relationship management using artificial intelligence. Dwyer (1987) proposed a four-stage model for managing client relationships: recruiting, keeping, enhancing, and terminating. Hopskin (2018) refers to these stages as the "house elements" of customer relationship management. The use of artificial intelligence to successfully perform these tasks is expected to enhance the user experience. To see if artificial intelligence has a statistically meaningful impact on customer experience, we need to test the hypothesis (H1). In contrast to past studies that did not use voice, our research will take a rational approach to testing theories. The hypotheses will be based on the current theories presented in the following paragraphs. Finally, to assess the impact of artificial intelligence on the customer experience,After conducting analytics to enhance the user experience. The author chose Daraz as an appropriate research topic. Following an agreement with the company, 300 clients were randomly selected and contacted. After contacting a randomly selected sample of 300 customers, a thorough investigation indicated that Daraz, an e-commerce behemoth, has a significant presence in Pakistan. Daraz was.

The organization has been recognized for its contributions to local businesses 

And communities through its logistics marketplace (LMP) (Desk, 2023). The corporation previously established an artificial intelligence section to incorporate chatbots, digital IVR, and voice technology. Listening to both consumers and business owners is critical for gaining insights. Consumer insights will assist us understand their attitudes toward AI. We will gather insights from business owners to investigate the advantages of incorporating artificial intelligence. This study will take a mixed-methods approach to better evaluate the impact of artificial intelligence on customer experience, with the customer's voice serving as a mediator.The objective was to test H1 and H2. The first step was to find a well-known, technology-driven firm in Pakistan. The decision to do research in Pakistan was chosen for a variety of reasons, including narrowing down information from a broad standpoint.Due to insufficient research and understanding, qualitative analysis was required to evaluate the relationship between variables. There is currently no research into whether the customer's voice mediates the relationship between AI and customer experience. This applies at a more specific level (Pellissier, 2008).The quantitative research emphasizes the importance of understanding the relationship between AI, customer voice, and experience. Understanding hDespite hurdles, the final sample of 197 respondents yielded useful insights for this study. Although the sample size was slightly lower than the intended objective of 300, it remained statistically significant. Non-responses and data quality difficulties are typical in survey research, which we expected. As a result, we analyzed the influence of artificial intelligence on.

The study's authors will use questionnaires to collect data

The questionnaire will be closed-ended with the exception of the age variable. The questionnaire aims to assess client behavior towards artificial intelligence. It will have four components. In addition to the demographic section, the authors will focus on three variables: artificial intelligence, voice of customer, and customer experience. The questionnaire has been evaluated and utilized previously (Table 1) (Daqar & Smoude). To address issues, follow-up reminders were sent to non-respondents and the questionnaire was carefully drafted to reduce inaccuracies in responses. Although the final sample was slightly smaller, it was still representative and adequate for research. Businesses believe that artificial intelligence, consumer voice, and experience are vital. Qualitative analysis assists businesses in understanding how they employ artificial intelligence, the obstacles they confront, and how it facilitates the collecting of user input to improve the customer experience. We used a deductive approach to test the validity of hypotheses demonstrating causal relationships between variables, with customers serving as a mediator between AI and customer experience. Daqar and Smoudy's (2019) research emphasizes the importance of including the customer's voice as a mediator, which leads to our second hypothesis. customer experience via speech.This data will be based on previous research, analysis, and evaluation. The author conducted a thorough literature study in preceding parts to demonstrate the correlation between artificial intelligence and customer experience, with the consumer serving as a mediator.  picked for a variety of reasons, including its dominance in the region's artificial intelligence business. The company recently created a chatbot with Microsoft Azure OpenAI to improve the customer experience for South-Asian clients (Correspondent, 2023).

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