5 AI-powered tactics for navigating the recession

Companies can unlock the power of AI to navigate market challenges and drive productivity, accuracy, and growth while reducing costs

Here are some strategies that can help businesses survive a recession and sustain tough economic situation.

Real-time customer surveillance

The first requirement for any business is to build a loyal relationship with its customers and retain them, thereby avoiding customer acquisition costs. A study by Invesp found that increasing customer retention rates by only 5% can lead to a 25-95% boost in profitability.

To successfully measure customer sentiment, businesses need to find out a way for every customer-facing professional to see how often key accounts are being engaged with and by whom.