Freshworks Inc., the customer engagement software company, announced research that reveals broad dissatisfaction with the latest artificial intelligence (AI) and machine learning (ML) available in today’s CRM solutions. The commissioned research, conducted by Dynata, found that only 12% of CRM users actually use a specific AI-based tool, and only 11% say AI in their CRM allows them to focus on high-value customers. Still, three-fourths (75%) of CRM users are looking for more out of AI and are open to switching to a different CRM platform to take advantage of AI capabilities.
“AI offers an opportunity to transform customer support, engagement and, ultimately, success. But, as confirmed by the recent Freshworks study, despite aggressive hype by many CRM providers, we’re not seeing the widespread user awareness, adoption or satisfaction we’d expect,” said veteran tech/equities analyst Fred McClimans of Futurum Research. “Three-quarters of CRM users surveyed are willing to switch solutions to get more value from AI, yet a third can’t even quantify how AI is adding value to their current solution. There’s definitely a hype-reality gap out there and an opportunity for providers that leverage AI beyond simple task automation and suggestions to offer a more holistic approach to transforming customer engagement and experiences for both brands and consumers.”
“Research reveals hype around AI is falling on deaf ears because it fails to provide real value — more like artificial impact than intelligence,” said Freshworks CMO David Thompson. “Legacy SaaS solutions aren’t delivering what customers need and it’s clear the market is looking for a fresh SaaS alternative to add real value. For AI to truly transform a business, it needs to move beyond simplistic ratings that don’t deliver to meaningful recommendations that court, close and keep customers for life.”
Freshworks commissioned first-party data firm Dynata to survey n=501 employed CRM users in the US for its “AI Hype Report” research. Data was collected using an online survey in the US between Oct. 21 and Oct. 29, 2019. Among these, 145 users indicated Salesforce is their CRM brand.
Freshworks provides innovative customer engagement software for businesses of all sizes, making it easy for teams to acquire, close, and keep their customers for life. Freshworks SaaS products provide a 360 degree view of the customer, are ready to go, easy to use and offer quick return on investment. Headquartered in San Mateo, USA, Freshworks 2,500+ team members work in offices throughout the world.