Imagine if funding and donating to an NGO or a cause anywhere in the world was as easy as ordering on Amazon. With today’s technology and integration of information, and a little bit of work filling in the gaps, this is doable.
Copyright by www.thenationalnews.com
Philanthropy has seen many efforts through initiatives such as, for example, the Giving Pledge, a commitment by ultra-high-net-worth individuals to donate the majority of their wealth, to reach donors and expand giving. While these efforts are essential, more is needed to reach smaller classes of donor and to help them connect with credible causes that match their interests easily.
With the Covid-19 crisis revealing deep structural and social inequalities across the globe, philanthropy and philanthropic dollars need to be optimised to help mitigate the urgent health, economic, social and fiscal impact of the pandemic. A collective humanitarian response that can make targeted giving easier for large donors while harnessing the power of smaller, informed donors is now more critical than ever.
There is a way to achieve this, through the development of a cloud-based philanthropic platform that utilises artificial intelligence to amalgamate credible data on global needs and global giving into easily accessible and comprehensible information that donors can act upon. Such a platform could allow donors to filter their searches on location, themes, organisation size and charity ratings, as well as funding gaps.
Where policy responses fall short and gaps in the allocation of urgent funding exist, an AI-centred philanthropy data platform could allow donors to respond to economic and social challenges based on reliable, real-time global data and analysis.
AI technology is already used as a tool to advance efficiency and growth in businesses. Companies like Netflix and Amazon use AI recommendations to match offers to individual preferences and purchases and to inform content development, optimising their profits.
Similar technology, albeit for the purpose of global common good could be used to ensure that supply of philanthropic donations meets the demand for support while improving transparency and accountability. AI in the form of a recommendation engine could, for example, match donor criteria from themes to locations to ratings and NGO partners with causes via the philanthropic platform.
A 2018 report on private philanthropy by the Organisation for Economic Co-operation and Development (OECD) found that only 28 per cent of funding benefitted the least developed countries. The data shows that private development financing is largely bypassing the most vulnerable. Moreover, financing often misses the actual needs of local communities, as funding is likely to be allocated without the weigh-in and participation of local charity or NGO staff. By logging onto an online platform, philanthropists and individual donors could see where giving is capped or in excess, enabling them to invest where they care while matching needs on the ground and maximising the impact of their investments. […]
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