Artificial intelligence is at its best when it augments, accelerates, and multiplies a person. This is just one of the thought-provoking morsels shared by Adam Martel, CEO of Gravyty, during his education session earlier this week at Community Brands user conference, Xperience 2018.
Martel got the idea for his company, which he launched in 2016, during his tenure as a major gifts fundraiser at Babson College, where he spent more time each day trying to figure out which donors to approach, rather than actually approaching them. He knew there had to be a better, more efficient way to help frontline fundraisers get to their donors. Martel says, “I have a core belief that modern technology, specifically AI, should augment behavior and supercharge fundraising.”
So, Martel turned to one of the biggest, most powerful assets most nonprofits already have: their database. “We’ve been conditioned to make our databases bigger,” says Martel. “We need to stop buying inputs and start buying outputs. These outputs should be revenue to support the wonderful causes we represent.”
Using artificial intelligence (AI), Martel and his team figured out a way to determine exactly where donors are in the giving lifecycle. Gravyty’s first product out the gate, called First Draft, uses robust algorithms to identify the best donors at the right time for discovery, cultivation, solicitation, and stewardship. Then, it provides nonprofit professionals with a draft letter to edit and send to the donor. It delivers these emails daily, directly to your inbox, and over time, it even learns your tone and style, adjusting to match you. Martel believes that you shouldn’t have to learn your software, your software should learn you.
In addition, ask amounts are created from its artificial intelligence algorithms, and take advantage of deep insights hidden within data. So, a fundraiser’s ask amounts are smarter – and they get smarter every day, learning from fundraiser and donor actions.
By democratizing these skills, AI is not only creating efficiencies, it’s freeing fundraisers to spend their valuable time developing and nurturing deep prospect and donor relationships, rather than culling through databases.