Artificial Intelligence (AI) is revolutionizing the sales sector, according to a recent study by UAB Collat School of Business Professor Colleen McClure, Ph.D., and colleagues. Published in the Journal of Personal Selling & Sales Management, the study highlights how AI is reshaping sales processes to meet the dynamic demands of the market.
McClure and her team emphasize that AI tools are augmenting every phase of the sales process, particularly in complex B2B sales. With AI projected to handle 60% of sales tasks by 2028, up from 45% in 2023, the sales industry is on the cusp of a major transformation.
The study delves into the implications of AI for various stakeholders. For salespeople, AI reduces routine tasks and allows for a focus on strategic activities. Sales managers benefit from AI’s coaching and performance tracking capabilities, while organizations can leverage AI for more accurate sales forecasting and decision-making. Customers also enjoy more personalized interactions and services, enhancing their overall experience.
However, the study also addresses challenges such as the need for ongoing training and adaptation to new technologies, as well as concerns about data accuracy and privacy. The researchers call for further research into how AI can revolutionize sales strategies and customer management, emphasizing the importance of understanding AI’s long-term effects on customer relationships.
The study showcases current AI applications like Gong and Salesforce.com, which enhance lead scoring and customer relationship management. The researchers stress the importance of ongoing research to keep pace with AI advancements and effectively manage its integration into sales processes. AI’s potential to transform sales is clear, but strategic oversight is essential to harness its benefits effectively.