AI is transforming the world of business and any technology that powerful can also be harnessed by nonprofit to streamline their operations, increase their revenue, hire the right people, and make the greatest impact on society that they can.
These use cases are all outlined in this Brookings Institute article.
Further, Phil Goldstein explains how using more AI can help nonprofits in this article from BizTech:
AI tools can sift through massive amounts of data relatively quickly, and much more quickly than human workers. This can be especially helpful in nonprofit finance operations.
“Fraud and corruption are major challenges for any kind of organization as it is hard to monitor every financial transaction and business contract,” West and Kelso say. “AI tools can help managers automatically detect actions that warrant additional investigation.” Nonprofits can use AI to “create early warning systems, spot abnormalities, and thereby minimize financial misconduct. These tools offer ways to combat fraud and detect unusual transactions,” they add.
Another area where AI can help is in human resources. AI software can help nonprofits “advertise, screen and hire promising staff members” based on the criteria that hiring managers set for relevant experience and skills, West and Kelso add.
And AI can aid in nonprofit fundraising by performing sophisticated data analytics on data sets aggregated from donors and supporters, including “previous individual donation amounts and patterns, event attendance records and wealth amount,” according to NPEngage.
