Now that this year is in full swing, it is imperative for companies to seek practical solutions that swiftly deliver value, such as modern customer relationship management (CRM) and enterprise resource planning (ERP) systems. These solutions integrate generative artificial intelligence (AI), automation, and other advanced capabilities into everyday tools, revolutionizing the way people work. With these systems, employees encounter more efficient workflows while customers receive unparalleled personalized service.

For business leaders aiming to propel their organizations forward in 2024, embracing AI-powered CRM and ERP systems is pivotal. This adoption drives business transformation, innovation, and efficiency through three primary avenues:

• Operational streamlining: Evolve CRM and ERP systems from disparate applications into a cohesive, automated ecosystem. This transformation enhances team collaboration and facilitates seamless data sharing.
• Decision empowerment: Equip all staff with AI-driven natural language analysis, enabling swift insights generation for informed decision making and the discovery of new market opportunities.
• Enhance engagement: Tailor customer interactions with comprehensive 360-degree profiles. Additionally, boost workforce productivity with AI-driven chatbots and automated workflows, freeing up employees to concentrate on strategic, high-value tasks.

It is time to view AI as more than just a technological tool; it is a strategic necessity for 2024 and beyond. Embracing CRM AI for marketing, sales, and service, along with ERP AI for finance, supply chain, and operations, is essential for maintaining competitiveness and staying ahead of the competition.

The rise of AI in CRM and ERP systems

AI in ERP systems has been a prominent topic of discussion lately, and it is far more than just a passing trend. It is a dynamic reality that has the potential to revolutionize the entire landscape of business software.

Recently, there has been significant attention on AI in software across various industries. However, the mere mention of AI often triggers apprehension and uncertainty. Despite concerns of AI’s malevolence, negative depictions of the technology often exaggerate AI’s capabilities. Simply put, AI-powered systems emulate human reasoning and intelligent behavior, capable of performing tasks that traditionally require human intelligence.

While AI is just starting to gain widespread use in ERP systems, it has already been integrated into technology for quite some time, even in our daily lives. Examples include built-in smart assistants like Siri, Alexa, and Google Assistant, speech recognition software, security services, streaming platforms, and drone delivery services offered by companies like Amazon.

2024 AI business predictions

With the rapid advancement of AI technologies, there are a number of ways in which AI will continue to change how business gets done. A few predictions include:

1. Making the right AI decisions will provide companies with a significant edge.

   In 2024, numerous companies will discover enticing return on investment (ROI) prospects with generative AI (GenAI), yet only a select few will succeed in unlocking its transformative potential. While GenAI may seem user-friendly and many cloud service providers are already integrating its capabilities, realizing its full benefits necessitates more than merely enabling employees to utilize new features in enterprise applications, however robust they may be. It demands harnessing GenAI’s adaptability to tailor it to your specific requirements and leveraging its remarkable scalability while also carefully considering potential risks.
   
   One crucial aspect is to avoid falling into the use-case trap. Merely employing GenAI in isolated instances will yield limited returns. Instead, focus on identifying “patterns” that can be scaled. For instance, GenAI’s ability to derive insights from unstructured data, such as text, can empower nearly every knowledge worker to enhance their capabilities and decision-making processes.
   
   Providing workers with incentives to not only adopt the new technology but to rethink their roles is paramount. Technological advancements enable them to redefine their tasks by exploring ways to deploy and customize GenAI to automate certain functions and enhance others. As technology continues to advance and costs decrease, leadership will need to reimagine operation and business models. When GenAI reduces the expenses associated with digital labor, organization should assess if they will be prepared to pivot towards new strategies and models.

2. There will be an increased prioritization of personalization and user experiences.

   With AI’s aid in forecasting customer behaviors and preferences as well as mapping customer journeys, predictive sales and marketing strategies will advance, fostering creativity among marketers and enhancing customer engagement for sellers. Additionally, AI-driven CRM platforms will become more robust, incorporating social media and additional data sources to offer deeper insights into brand perception and customer behavior.

3. There will be amplified scrutiny of ethical guidelines for AI development and implementation.

   The progression of AI-driven tools and technologies has undeniably benefitted businesses everywhere. Nonetheless, the well-documented risks and hazards accompanying the widespread adoption of AI cannot be ignored. Business users and professionals alike harbor concerns about the multitude of factors associated with accelerated AI integration, encompassing technology reliance, privacy concerns, security issues, ethical considerations, biases, and more.
   
   Ethical deliberations surrounding AI are gaining prominence, and businesses will encounter heightened scrutiny regarding the ethical ramifications of these tools and technologies. Microsoft, for instance, has outlined responsible AI principles aimed not only at maintaining order but also at promoting advancements in AI policy, research, and engineering.

4. More human-AI collaboration will come into the picture.

   AI is increasingly proficient in performing numerous tasks traditionally associated with humans—such as diagnosing diseases, translating languages, and offering customer service—and its progress is swift. Naturally, this evokes concerns that AI will eventually displace human workers across various sectors of the economy. However, this is not necessarily the inevitable or more probable scenario. Never before have digital tools been as attuned to our needs nor have we been as adept in utilizing them. While AI will certainly revolutionize how work is conducted and who performs it, its primary impact will likely involve complementing and enhancing human capabilities rather than supplanting them.

Watch now: An Introduction to Transforming Your Business With AI

Citrin Cooperman recently held a webinar, An Introduction to Transforming Your Business with AI, where they discussed:

• Demystifying AI with real-world use cases and demos: Our professionals unraveled the complexity of AI by showcasing real-world use cases. These demonstrations provided tangible examples of how AI delivers concrete benefits across diverse industries, making the technology more accessible and applicable to specific business needs.
• Crucial AI insights for intelligent decision making: Understanding the transformative power of AI in providing invaluable insights has never been more important. Our professionals covered how AI can drive intelligent decision making within organizations, leading to more informed and strategic choices that can positively impact their bottom line.
• Future-proof businesses with AI technology: Businesses need to stay ahead of the curve by gaining insights into the latest advancements in AI technology. Our professionals explained how these innovations can future-proof businesses, ensuring they remain resilient and adaptive in the face of a dynamically changing business environment.

Click here to watch the webinar now.

AI support provided by Citrin Cooperman

No matter where your organization stands in its AI adoption journey, it is time to move forward. Discover how AI integrates seamlessly with CRM and ERP platforms such as Microsoft 365.

With features like Copilot and other AI-driven capabilities within Dynamics 365, your organization can establish cohesive ecosystems, propel growth, and provide outstanding customer experiences. Additionally, you can enhance operational agility, boost productivity, and achieve greater efficiency.

Citrin Cooperman’s Digital Services Practice will make sure your business is ready to take advantage of AI’s benefits with our Copilot for Microsoft 365 Workshop. Upon completion of the workshop, your team will have an AI readiness report, deployment roadmap, budgetary scope, and actionable recommendations to support your go-live strategy.

Register for the workshop or contact us today to learn more about how we can help your company be among the first to leverage AI in your business and get Copilot up and running.