WEBVTT - How Technology Can Help Close Racial and Gender Gaps at Work

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<v Speaker 1>The Air Summit in New York kicked off today. It

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<v Speaker 1>was in person at the Javit Center. The event digging

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<v Speaker 1>into the impact of artificial intelligence in business and speaking

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<v Speaker 1>just a short while ago on how AI can unlock

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<v Speaker 1>the economic gains of gender equity and great to be

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<v Speaker 1>talking with her. Game is Kataka Roy. She's the CEO

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<v Speaker 1>and founder of Pipeline Equity. They leverage AI to identify

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<v Speaker 1>and drive economic gains through gender equity, and she is

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<v Speaker 1>with us joining Tim and myself on the phone in

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<v Speaker 1>New York City. Kadaka, good to be talking with you again.

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<v Speaker 1>How are you? Likewise? It is wonderful to be here.

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<v Speaker 1>I'm great. It's great to be in person again. I

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<v Speaker 1>know right, It's just like the first time you do

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<v Speaker 1>that or the second time, it's just like, oh my god,

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<v Speaker 1>it feels quote unquote normal. Having said that, UM, tell

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<v Speaker 1>us about the event a little bit and some of

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<v Speaker 1>the conversations that you've been having with individuals when it

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<v Speaker 1>comes to AI in the workplace and gender equity in particular.

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<v Speaker 1>Absolutely so. The AI cummit itself is a premier artificial

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<v Speaker 1>intelligence uh UM event, And what I was talking about

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<v Speaker 1>specifically is digital transformation. One of the things that we

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<v Speaker 1>know that actually catapulted forward five years during COVID nineteen

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<v Speaker 1>last year, And how we can actually use artificial intelligence

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<v Speaker 1>and digital transformation to catapult our time towards equity which,

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<v Speaker 1>as most of us know, gender equity was actually stepped

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<v Speaker 1>back during the pandemic. How do you do that? Because

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<v Speaker 1>when you when you use AI, you correct me if

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<v Speaker 1>I'm wrong here, But you know, AI can be really biased,

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<v Speaker 1>and it can be biased in a bad way and

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<v Speaker 1>it can be biased in a in a good way.

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<v Speaker 1>I think it's fair to say, so, what are the

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<v Speaker 1>inputs that that that you use when it comes to

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<v Speaker 1>AI to actually leverage change for good? So what pipeline

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<v Speaker 1>does is we actually intercept a people decisions. So the

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<v Speaker 1>decisions that companies make about their people, there's five of them,

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<v Speaker 1>which is internal hiring, pay, performance, potential, and promotion. We

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<v Speaker 1>get in front of those decisions. So for instance, you

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<v Speaker 1>submit a pay proposal or write a performance review and

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<v Speaker 1>say it as a draft. Then it goes through the

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<v Speaker 1>Pipeline platform to find any inequity, and if we find any,

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<v Speaker 1>we actually then make recommendations. And those recommendations look like

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<v Speaker 1>natural language processing that reads through performance reviews to call

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<v Speaker 1>it any bias phrases ensuring for instance, that that ratings

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<v Speaker 1>are equitable. Those are some examples of recommendations that we provide.

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<v Speaker 1>What is the inequity that you identify though, so it depends,

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<v Speaker 1>uh it is says I mean essentially kind of if

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<v Speaker 1>you were to put it in a a topline bucket,

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<v Speaker 1>it would be undervaluing women in the labor force. So,

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<v Speaker 1>for instance, we found that a third of all performance

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<v Speaker 1>reviews contain bias four percent of the time that actually

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<v Speaker 1>leads to women receiving lower ratings. And I know that

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<v Speaker 1>four percent doesn't sound like a lot, but actually modeled

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<v Speaker 1>out what that what it What that means is that

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<v Speaker 1>it takes twice as long for women to be promoted

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<v Speaker 1>into the roll kinds. Those are some examples, etcetera. Kindaga,

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<v Speaker 1>there's UM something I've done for our Bloomberg media team

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<v Speaker 1>and it's it's actually an event next week that's coming

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<v Speaker 1>up and catching up with the chief marketing officer of

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<v Speaker 1>Union Square Hospitality UM talking with UM others female entrepreneurs,

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<v Speaker 1>female founded firms. And what's interesting is we talked about

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<v Speaker 1>this whole idea that companies still don't get women and

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<v Speaker 1>aren't providing the opportunities. Why is that? Like, and they

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<v Speaker 1>don't and they haven't figured out how to get the

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<v Speaker 1>most out of us. I'm not saying me personally, but

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<v Speaker 1>but in general, there's that feeling. Why is that? So?

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<v Speaker 1>The the sort of core issue here is that we

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<v Speaker 1>have focused largely companies have focused on fixing women versus

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<v Speaker 1>fixing the system. And examples of that include things like,

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<v Speaker 1>um uh, you know, teaching women to negotiate, or trying

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<v Speaker 1>to get them to apply for more jobs, or changing

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<v Speaker 1>the way that they speak. And this thing about that

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<v Speaker 1>is is that women aren't broken. The system is broken,

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<v Speaker 1>so we need to fix the system. That means and

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<v Speaker 1>what's fixing the system means is actually ensuring equity within

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<v Speaker 1>our decisions. Kadik, I'm wondering if you are optimistic to

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<v Speaker 1>the extent that you think that pipeline equity won't need

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<v Speaker 1>to exist in our lifetimes. Well, I don't think I

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<v Speaker 1>would think that, because we're currently two hundred sixty eight

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<v Speaker 1>years away from equity and some context, yeah so, and

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<v Speaker 1>we added eleven years just in the last year, so

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<v Speaker 1>I wouldn't say that we won't need it. However, what

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<v Speaker 1>I will say is this, On average, our customers increase

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<v Speaker 1>equity by sixty seven percent in the first three months

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<v Speaker 1>on the platform. So there's a tremendous opportunity for us

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<v Speaker 1>right now to catapult our time toward equity and really quickly.

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<v Speaker 1>What we've found is that for every tempera cent increased

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<v Speaker 1>in equity, there's a one or two percent increase in revenue.

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<v Speaker 1>So it's not only the right thing to do, it's

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<v Speaker 1>actually a huge and massive economic opportunity. Yeah. One of

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<v Speaker 1>the things that we talked about this event that's coming

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<v Speaker 1>up next week and you can find out more on

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<v Speaker 1>LinkedIn or checked out my Twitter feed. But it's also

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<v Speaker 1>we're seeing a lot more females fund you know, create firms,

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<v Speaker 1>entrepreneurs because they've just had it with with the traditional space.

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<v Speaker 1>We'll go ahead, well, no, no, please go ahead. Well,

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<v Speaker 1>I was gonna say, of what I learned recently with

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<v Speaker 1>the spacks of those have women on their on their boards,

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<v Speaker 1>So we're seeing more gender equity at least when it

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<v Speaker 1>comes to the new companies that are being created. Kind

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<v Speaker 1>we have to run, but we'll catch up with you

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<v Speaker 1>real soon. And I'm so glad we could, and I'm

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<v Speaker 1>so glad to hear that you guys were at an

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<v Speaker 1>event in person. Well, it's nice to see parts of

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<v Speaker 1>our world reopen, even if we do so cautiously. Kadak

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<v Speaker 1>Roy she's chief executive officer. She's the founder of Pipeline Equity.

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<v Speaker 1>As we mentioned, um, they you're using leveraging AI to

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<v Speaker 1>identify drive economic game through gender equity. Really cool stuff

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<v Speaker 1>on the phone in New York City. Very cool. Interesting

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<v Speaker 1>take us back quiz you can get up. But David

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<v Speaker 1>Rubinstein said about like younger people on boards, like you

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<v Speaker 1>really got to bring in a diversity of thought to

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<v Speaker 1>really do perform well.