Machine Learning (ML) and Artificial Intelligence (AI) have the potential to revolutionize nonprofit technology. So how exactly will ML and AI change nonprofit technology and fundraising? Let’s explore just a few possibilities:
- Prospect Engagement: New donor acquisition is a costly and timely endeavor. AI and ML coupled with better enrichment data allows for targeted engagements that connects you or your fundraisers to your ideal recurring donors. Donor acquisition no longer needs to be limited to a direct mail campaign. Now, you will be able to leverage your most important resources, your current supporters, to easily fundraise for you. This is a game changer.
- Donor database management: Identity resolution and database cleanup is a constant headache for many nonprofits, but it does not need to be. Using machine learning, better third-party data, and open source data, ML can cleanup and consolidate previously messy databases and provide insights into your donors that previously only came from very expensive and long consulting engagements. ML will solve those persistent donor database problems…. easily and efficiently.
- Messaging and A/B Testing: AI and ML optimizes better than current analytics by continually improving algorithms based on seeing the results of the current algorithms – an automated continuous improvement cycle for your analytics. AdTech is already doing this every time you see a new ad in your browser. It is time for nonprofits to do the same with their messaging.
- Analytics and Insights: Overall, AI and ML are often just better analytics that learn from the data without the need for extensive statistical modeling. ML algorithms improve on their own as more data is provided. Your understanding of your donors should not be based off old and stale data – moving forward your insights will based on the here and now and go much deeper.
- AI understanding of content, images, and language: Content processing and search is being piloted in other industries. The takeaway for nonprofits is that AI will continue to increase the ability to process huge volumes of images, videos, content, recordings, and the web thereby making the need for human content review somewhat obsolete. How will these capabilities help your current workforce achieve their mission faster and more effectively? The possibilities are numerous.
The news today is inundated with threats of AI and ML replacing humans in an array of repetitive jobs and tasks. In the philanthropic world financial resources to hire staff are limited. AI and ML can serve to empower an already stretched nonprofit staff to achieve higher goals and focus more on donor relationships and cultivation thereby ensuring more dollars go towards achieving the philanthropy’s mission. AI is changing every aspect of the world around us at a staggering pace. The technology is real. The results are proven.
Are you ready?