What is Artificial Intelligence?
Artificial intelligence (AI) is the ability of a computer, or a robot controlled by a computer to do tasks that are usually done by humans. Artificial intelligence (AI) makes it possible for machines to learn from experience, adjust to new inputs, and imitate intelligent human behavior.
Some AI applications you may recognize include advanced web search engines (ex. Google), recommendation systems (used by YouTube, Amazon, and Netflix), understanding human speech (Siri and Alexa), and self-driving cars (ex. Tesla).
How can nonprofits use Artificial Intelligence?
Nonprofits can use AI to strengthen their capital campaigns and appeals by making the most out of their data. Using valuable data from your database along with AI software allows you to connect with your donors in a more personalized way based on predictions about giving behavior.
Here’s how it works:
- Extract the information from your donors stored in your Nonprofit’s CRM or other database. The data extraction finds and identifies relevant data, then prepares it for processing.
- Using artificial intelligence software, you can then analyze the data to generate predictions. An AI software will have a basic prospect scoring system that applies an algorithmic model built from a documented dataset to a new dataset in order to reveal insights that will help uncover patterns in giving. A few of the things that can be uncovered are estimated giving capacity, propensity to give, and the affinity to give to your organization or cause. By taking data that you already have about your supporters and predicting what they’ll do in the future, you can target donors in a more personalized way.
- You can then target the donors who have a higher propensity to give by segmenting who is ready to give based on your AI software recognizing patterns in your donor data. When donors feel like a nonprofit understands them and their motivations and financial circumstances, they feel connected with the mission and are more likely to give.
- Ultimately, using AI allows you to use your resources more efficiently while increasing your chances of raising more money for your mission.
With the costs of AI technology going down, more and more nonprofits are incorporating AI technology into their fundraising plans in an effort to make deeper connections and raise more money for the mission.
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