Study: 63% of Hong Kong biz would adopt AI-powered CRM

Hong Kong businesses are the least likely to adopt artificial intelligence-powered CRM platform -- the lowest among its counterparts in the rest of Asia.

In Salesforce's latest study, titled "Innovation: All Eyes on Asia," key business and IT decision makers across eight countries in Asia ranked enterprise apps, CRM, cloud computing and artificial intelligence (AI) as top innovation priorities.

When presented with capabilities of an AI-powered CRM platform, 78% said they are likely to adopt.

"The 4th Industrial Revolution is upon us, and companies that harness the predictive prowess of AI are well-placed to address challenges in this dynamic region"
-- Robert Wickham, regional VP, innovation & digital transformation, APAC, Salesforce

In a Salesforce survey, the respondents were asked whether they would adopt an imaginary AI-powered CRM platform that would allow companies to connect with their customers and prospects innovatively. The key features of the imaginary platform would enable companies to: 1) capture real-time customer signals (e.g. customer's support request); 2) analyze every customer data point across multiple sources; 3) predict the best next sales, marketing, or service interaction for each customer; and 4) automate everything from routine tasks to real-time customer engagement.

Singapore businesses found the above concept appealing (84%) and relevant (76%) but only 68% were likely to adopt. India (90%), Indonesia (83%), Vietnam (85%), Philippines (84%) and Thailand (84%) were the most likely to adopt while Hong Kong was the least likely to adopt (63%).

Innovating to boost customer retention

In Asia, innovation is seen as the process of creating new and novel solutions to fulfil unmet customer needs. Asian businesses prioritize innovation that empowers them to retain their customers (70%) and more than half (53%) were likely to adopt innovation that achieves this goal.

The markets that are most eager to adopt customer retention technologies are India (93%), Malaysia (82%), the Philippines (88%) and Singapore (88%). In contrast, Hong Kong (28%), Vietnam (14%), Thailand (16%) and Indonesia (5%) have a much more lukewarm reception towards the adoption of customer retention technologies.

The positive impact of a culture that empowers employees to be innovative is evident in the 77% who agreed that innovation has transformed their company operations favourably, with 80% of this group prioritizing innovation within their organization in the next 12 to 24 months.

Asian companies are more likely to invest in technology regardless of economic outlook and 79% said they will increase their technology spend even in an underperforming economy where 84% of them view technology as a long term revenue driver.

"The appetite for artificial intelligence by Asian companies is continuing to grow. The Fourth Industrial Revolution is upon us, and companies that harness the predictive prowess of AI are well-placed to address challenges in this dynamic region," said Robert Wickham, regional vice president, innovation and digital transformation, APAC, Salesforce.