OneCause, a leading provider of event and online fundraising technology, was named a 2024 BIG Innovation Award winner by Business Intelligence Group for its Auction AI features, a first-to-market innovation in nonprofit auction fundraising that redefines efficiency and effectiveness through the integration of AI technology.
“We’re honored to receive a BIG Innovation Award for Auction AI. In the world of nonprofit fundraising, every moment — and every dollar — matters,” said Steve Johns, CEO at OneCause. “By automating the process of creating auction item descriptions and presenting guests with smart item recommendations, Auction AI helps make nonprofit auction events more successful through reducing workload for event staff, while simultaneously increasing fundraising dollars.”
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The summer 2023 release of Auction AI consisted of two game-changing pieces of functionality, with more in the works:
- Auction Item Description Generator: Leverages generative AI techniques to craft compelling and enticing item descriptions, engaging guests, stimulating increased bidding to support the cause, and saving nonprofit staff hours of time. The generator can save up to 8 hours of time on an average-sized auction.
- Item Recommendations: Dynamically highlights items when bidders are engaging with other auction items, ultimately driving more revenue. With auction item recommendations, the average item sold for 5x its starting bid during the spring 2023 event season, a 25% increase in amount raised on sold items compared to the average sold before the release of Auction AI.
To develop Auction AI, OneCause analyzed bidding patterns and historical data from 40,000+ auctions and 4 million auction items. The company’s history and specialization in fundraising auctions provide a large, comprehensive dataset and unique advantage.
“Innovation is driving our society,” said Maria Jimenez, chief nominations officer of the Business Intelligence Group. “We are thrilled to be honoring OneCause as they are leading by example and improving the lives of so many.”
Organizations from across the globe submitted their recent innovations for consideration in the BIG Innovation Awards. Nominations were then judged by a select group of business leaders and executives who volunteer their time and expertise to score submissions. Auction AI from OneCause joins an elite group of awarded companies, including Bausch + Lomb, Experian, and T-Mobile.
SOURCE: PRNewswire
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