Like many of us (most of us?), I have been thinking about Artificial Intelligence a lot these days. Rapid technological advancements powered by AI are everywhere, impacting for-profit companies and nonprofit organizations in equal measure. There are plenty of opportunities for nonprofits to use AI to strengthen their programs and fundraising but, what about philanthropy, corporate giving and ESG? How is AI bolstering the way we support and address the social and environmental needs in our communities?
Data Analysis for Targeted Impact
AI can fundamentally change how philanthropy operates, by enhancing efficiency, decision-making and impact assessment. Processing vast amounts of data to identify trends, needs and opportunities will enable funders and donors, in partnership with impact organizations, to make more informed decisions about where their resources can have the greatest impact. This data analysis can also identify previously unseen causality and connections to reveal novel approaches that can drive real social change in persistent areas of need and challenge.
Any-time Engagement
No philanthropic decision is made without learning more about a potential grantee, and effective donor and nonprofit engagement takes time and resources. AI-powered chatbots can make it easier for donors to engage with impact organizations, by asking questions, exploring data, and even donating. These engagements can happen in real-time, any-time. As the tools evolve, a more personalized experience that provides each funder with engagement that is tailored to their needs can help accelerate the giving process and aid faster decision-making.
Advancing AI for “Good”
While AI presents opportunities to enhance and evolve philanthropy, it also raises important ethical questions. Issues such as data privacy, algorithmic bias, and the effects of automation on human involvement in decision-making are real. Philanthropy can, and must, support research and initiatives that address these risks, promote transparency, and establish ethical guidelines for AI applications. By taking an active role, funders, donors and impact organizations can help shape the trajectory of AI and how it can positively impact our world.
There is no doubt that AI is poised to revolutionize philanthropy by offering new ways to identify, engage and support causes that matter. By leveraging AI-driven tools we can make significant progress toward greater social and environmental sustainability. At the same time, we must address the ethical concerns so that we can fully harness the power of AI for good.