STUDY OF ARTIFICIAL INTELLIGENCE AND ITS INFLUENCE ON CRM TECHNOLOGY IN MORTGAGE FINANCE COMPANIES

Abstract

This study investigates the impact of AI integration and its Influence on CRM Technology in Mortgage Finance Companies on three critical aspects: AI-based Mortgages customization, enhanced Mortgages customer database, and AI integration in the CRM Mortgages operations. The first research question was to establish whether there is a substantial enhancement of these aspects of CRM systems with the integration of AI. In the present study, the research used a sample of 100 respondents and adopted a quantitative research method with a random sampling technique to collect data. The use of descriptive statistics and Pearson correlation analysis was employed in the analysis of the relationship between the independent variable and the dependent factors. The analysis showed that there were low and insignificant association between the levels of AI integration and the three dependent variables. More particularly, the results revealed that the degree of AI integration was significantly but weakly and negatively related with the extent of AI personalisation (r = -0. 181), AI customer data management (r = -0. 104) and AI automation (r = -0. 134). The results of this study indicate that, counter to assumptions, AI integration did not significantly improve personalization, data handling, or the automation of CRM systems. Therefore, the study concludes that the expected positive effects of AI on the CRM functionalities were not observed in this sample, suggesting deficiencies in existing AI applications or their incorporation into CRM systems. The results point to the need for more research that can help to establish the efficiency of AI tools, how these tools can be fine-tuned and how they can be aligned to the objectives of CRM. If these factors are managed, they might assist with the realization of the potential of AI in redefining CRM systems. Thus, the findings of this research stress the need for further development of the AI tools and the elimination of the practical issues that hinder the enhancement of CRM performance.