Artificial Intelligence (AI) is the trendiest technology in the world and is expected to expand its potency further, covering various aspects of life. AI is making a profound impact on business and industry sectors, and over time more corporate are trying to incorporate AI into operations. Demand for skilled professionals is growing consistently. The demand for skilled AI professionals is rising, including women professionals. In the technology industry, job role and opportunity between men vs. women is highly skewed. The parity in other industries is noteworthy, but in the tech sector, women shape only 25% of the employees.
Higher productivity brand equity
The gender gap in the IT industry is not due to skill, efficacy, motivation, or experience. Women’s personnel need more empowerment and support. As the study reveals, gender diversity is the essence of higher productivity, brand equity, and profitability of the business, particularly in leadership quality. A top woman leader in AI propelled industry was capable of the rising average share price of the company by 44% after IPO. On the other hand, companies with a male-dominated board of directors were able to sustain a growth of 13% in average equity price. Since 2016 corporate off in Europe, the US, and Canada of all shapes and sizes achieved better RIO where there is gender diversity in higher management. Further, it was evident an increase in the ratio of women to men by 10% achieved a growth of 7% market capitalization.
Improve the functionality
There is not a speck of doubt women in AI and sectors have immense potency to succeed AI field. Successful implementation of the system is heavily dependent on the diversity of the workforce. A Deloitte survey recommends more women personnel on the team to improve the functionality and design of AI automation. Half of the world’s population is female, so bringing gender equality to the AI field seems pragmatic and sensible. But unfortunately, according to a report published by World Economic Forum 2021women form a mere 16% of AI faculty globally.
Inclusive corporate culture
Many women professionals are coming up in the tech field, particularly in AI and programming innovative solutions for retail, healthcare, banking, and other sectors. The increasing workforce in critical AI technical job roles requires more than recruiting effort. It requires an inclusive corporate culture giving them equal opportunity for growth and success. The world`s most successful and customer-oriented enteritis comprehends the imperativeness of diversity, equity, and inclusion (DEI model). The most critical aspect of achieving AI goals is talent; thus, organizations are revamping their talent hunt. In the last four years, the employment opportunity in the US for AI jobs rose by 74%.
One sector untapped
In spite of the hiring spree, one sector has remained untapped; women. A top woman leader in AI admits to the gender gap and advocates resolving it. Organizations denying females in AI tech could be handicapping their growth prospects. A diverse AI personnel team means they think differently to form a solution. Goldman Sachs emphasized a workforce with gender equality performed better in the equity market. Data shows companies with inclusive and diverse culture improves productivity and innovation within the organization and gain an edge over peers. The AI team should be diverse in order to successfully design and deliver algorithms.