Tuesday, February 27, 2024
HomeArtificial Intelligence (AI)How AI is Revolutionizing Crowdfunding: Boosting Fundraising Efficiency and Results

How AI is Revolutionizing Crowdfunding: Boosting Fundraising Efficiency and Results

Give.Asia, a crowdfunding platform based in Singapore, has developed its own AI tool called Sidekick to generate content for fundraising campaigns. This tool creates infographics, images, text, and short-form videos that are tailored to showcase the personal stories of campaign beneficiaries. The content is then shared on social media platforms like Instagram and Facebook. Users simply provide the necessary details or videos to be edited, and Sidekick takes care of the rest. This AI tool has not only made content creation more accessible to users without specialized skills, but it has also significantly reduced the time and effort required to generate campaign stories. Tasks that used to take days can now be completed in minutes, such as generating Instagram-styled videos in just 15 minutes. Previously, it took three to five days to produce a single 30-second clip. Copies for a campaign, including graphics, used to take two to three days to complete, but now it takes less than half a day with Sidekick. Give.Asia, founded in 2009, has helped run over 20,000 campaigns across six Asia-Pacific markets, raising more than SG$100 million ($73.75 million). The platform sustains its operations through “tips” given by organizations on top of their donations, rather than collecting a cut from the funds raised. It also supports charity organizations by collecting a nominal amount to cover transactional fees. Give.Asia has a team of 30 people, including full-time and part-time staff, as well as volunteers, who work in tech, marketing, partnership, and service support. The platform assists both organizations and individuals, with a focus on helping individuals raise funds for medical bills. Charities and non-profits can use Sidekick to create AI-generated materials for their fundraising campaigns without any charge. The use of AI has allowed charities to achieve higher efficiency without incurring additional costs. Give.Asia’s CTO, Gia Ngo, who has a PhD in AI neuroscience and biomedical data analysis in healthcare, spearheaded the development of Sidekick. It took his team six months to develop the tool, which is currently in closed beta and being used by a small group of charities. The feedback so far has been positive, with users reporting increased efficiency and the ability to generate multiple versions of content for campaigns. Charities can now run an initial batch of different versions and identify the one with the highest response, which can then be pushed out on a larger scale. Ngo emphasized the importance of human oversight in AI-generated content, especially in industries like charity work where trust is paramount. Give.Asia conducts checks to ensure the accuracy and privacy of all AI-generated content. Ngo sees AI as a companion to a company’s operations, assisting in repetitive and manual-intensive tasks. The long-term goal for Give.Asia is to make Sidekick open source and a self-service tool accessible to any charity that wants to use it. However, the challenge lies in adapting to the evolving AI landscape. Give.Asia used open APIs, including OpenAI, to build the base model and sources for content creation. In conclusion, Sidekick has revolutionized content generation for fundraising campaigns, making it more efficient and accessible for charities and non-profits. With AI as a companion, organizations can empower their staff to do more creative work without the need for specialized talent. The future of Sidekick looks promising, with plans to improve the quality of campaigns and eventually make it an open source tool.

Thomas Lyons
Thomas Lyons
Thomas Lyons is a well renowned journalist and seasoned reviewer, boasting an illustrious career spanning two decades in the global publishing realm. His expertise is widely sought after, making him a respected figure in the publishing industry. As the visionary founder of Top Rated, he has set a benchmark for authenticity and credibility in information dissemination. Driven by a profound passion for Artificial Intelligence, Thomas's keen insight pierces through the noise of the AI sector. He is dedicated to helping his readers find the most accurate, unbiased, and trusted news and reviews. As your guide in the evolving world of AI, Thomas ensures you're always informed and ahead of the curve.

Most Popular