The applicability of Artificial Intelligence & Machine Learning has been growing in every sector. In fact Forbes predicts that, “AI and machine learning will no longer be considered a specialty and will permeate business on a deeper level.”
At WealthEngine, Artificial Intelligence and Machine Learning are terms that are part of our Zeitgeist. We deal with these technologies every day when it comes to platform optimization. In fact, our new release WealthEngine 9.0 is all about automation and continuous learning.
This means you get accurate and up-to-date data to fuel personalized, wealth-aware campaigns.
Artificial Intelligence, Machine Learning, and Prospect Research
Artificial Intelligence helps analyze your database and build predictive models. You can use these models to identify your next best prospects. Further, Machine Learning automates the learning process to give you refined, personalized insights. In effect, the more you use the platform, the better it gets at serving your needs.
For instance, you could give us a list of 100,000 people with over 100 attributes for each record. This seems like a lot of data, but the Artificial Intelligence that powers the engine quickly analyzes these records. The engine recognizes patterns among top donors. These patterns are different for every organization. Therefore, your custom model helps you find new prospects like your top donors.
Machine Learning continuously refines your model. You can find top prospects in your database and convert them. While you do this, the algorithm sharpens itself to make the process faster and more targeted.
How do Artificial Intelligence and Machine Learning empower your organization?
The idea is simple. Models built specifically for your organization result in increased fundraising and marketing efficiency. Our predictive score is a strong indicator of conversion. It helps lower acquisition costs by enabling you to focus on top prospects.
When causes and corporations become efficient, they level-up entire communities! McKinsey reports that Artificial Intelligence is seeing niche applications in several social sectors. Plus, the technology has great potential to be scaled up.
Besides Artificial Intelligence and Machine Learning, we have defined a set of qualities that will empower us to uplift you.
What does AI/ML mean for us?
Our company is operating on a theme that we call Level Up! Every aspect of our business is being pushed to perform at a higher level. The notion applies to us, our platform, partners, and our approach to customer engagement.
Further, it means leveling up the work that our customers do- making their goals and missions our own. Through them, we will work towards uplifting communities and causes.
We believe that Automation, Integration, Monitoring, and Learning are key to achieving this.
Automation helps us present a tested and unified recipe in the form of a customer or donor profile. The process involves taking bits of data or ingredients in varying proportions from different sources and orchestrating them into a comprehensive profile. Our profiles can help you understand a person’s capacity, propensity, and intent.
Automation also helps ensure that you are always working with the latest information. This reduces the margin of error and acquisition costs. We automate the most manual, error-prone aspects of the process through Artificial Intelligence.
For instance, if you are a bank you can go beyond generic service offerings. An updated profile allows you to offer products based on current life stage and needs.
We take efficiency one step further through integration. Having updated profiles is great, but if we can provide this to you within a familiar platform, it is even better!
Our Salesforce connector app is one such integration. It allows you to see richer data on each profile within the ecosystem that you already use.
Integration reduces your effort and helps you focus on driving engagement.
Monitoring enables the platform to automate and provide a seamless user experience. It provides insights that help us enhance the profile frequently. The process also helps us refine our integrations for each sector.
For instance, giving history may be a top data point for a nonprofit. The same data point may be nothing more than an interesting side note for a luxury marketer. Monitoring powered by Machine Learning creates a tailored experience for you. When you access the platform, you will see a dashboard built on data and features that are most relevant to you.
Nothing is more important than continuous learning. We are interested in two types of learning. Insights at the platform level can help enhance your experience continuously.
At a higher level, we keep our eye on about global wealth, charitable giving and macroeconomic trends that could affect you. This helps us champion your causes and thereby level-up communities.
Leveling Up Together
Artificial Intelligence and Machine Learning enable us to offer relevant and updated insights. Our focus on Automation, Integration, Monitoring, and Learning empowers your prospect engagement.
When engagement and personalization come into greater focus, corporations can better serve customers. These customers can better support causes. This means that we each help the other to level up!