Speaker 1: The Air Summit in New York kicked off today. It
Speaker 1: was in person at the Javit Center. The event digging
Speaker 1: into the impact of artificial intelligence in business and speaking
Speaker 1: just a short while ago on how AI can unlock
Speaker 1: the economic gains of gender equity and great to be
Speaker 1: talking with her. Game is Kataka Roy. She's the CEO
Speaker 1: and founder of Pipeline Equity. They leverage AI to identify
Speaker 1: and drive economic gains through gender equity, and she is
Speaker 1: with us joining Tim and myself on the phone in
Speaker 1: New York City. Kadaka, good to be talking with you again.
Speaker 1: How are you? Likewise? It is wonderful to be here.
Speaker 1: I'm great. It's great to be in person again. I
Speaker 1: know right, It's just like the first time you do
Speaker 1: that or the second time, it's just like, oh my god,
Speaker 1: it feels quote unquote normal. Having said that, UM, tell
Speaker 1: us about the event a little bit and some of
Speaker 1: the conversations that you've been having with individuals when it
Speaker 1: comes to AI in the workplace and gender equity in particular.
Speaker 1: Absolutely so. The AI cummit itself is a premier artificial
Speaker 1: intelligence uh UM event, And what I was talking about
Speaker 1: specifically is digital transformation. One of the things that we
Speaker 1: know that actually catapulted forward five years during COVID nineteen
Speaker 1: last year, And how we can actually use artificial intelligence
Speaker 1: and digital transformation to catapult our time towards equity which,
Speaker 1: as most of us know, gender equity was actually stepped
Speaker 1: back during the pandemic. How do you do that? Because
Speaker 1: when you when you use AI, you correct me if
Speaker 1: I'm wrong here, But you know, AI can be really biased,
Speaker 1: and it can be biased in a bad way and
Speaker 1: it can be biased in a in a good way.
Speaker 1: I think it's fair to say, so, what are the
Speaker 1: inputs that that that you use when it comes to
Speaker 1: AI to actually leverage change for good? So what pipeline
Speaker 1: does is we actually intercept a people decisions. So the
Speaker 1: decisions that companies make about their people, there's five of them,
Speaker 1: which is internal hiring, pay, performance, potential, and promotion. We
Speaker 1: get in front of those decisions. So for instance, you
Speaker 1: submit a pay proposal or write a performance review and
Speaker 1: say it as a draft. Then it goes through the
Speaker 1: Pipeline platform to find any inequity, and if we find any,
Speaker 1: we actually then make recommendations. And those recommendations look like
Speaker 1: natural language processing that reads through performance reviews to call
Speaker 1: it any bias phrases ensuring for instance, that that ratings
Speaker 1: are equitable. Those are some examples of recommendations that we provide.
Speaker 1: What is the inequity that you identify though, so it depends,
Speaker 1: uh it is says I mean essentially kind of if
Speaker 1: you were to put it in a a topline bucket,
Speaker 1: it would be undervaluing women in the labor force. So,
Speaker 1: for instance, we found that a third of all performance
Speaker 1: reviews contain bias four percent of the time that actually
Speaker 1: leads to women receiving lower ratings. And I know that
Speaker 1: four percent doesn't sound like a lot, but actually modeled
Speaker 1: out what that what it What that means is that
Speaker 1: it takes twice as long for women to be promoted
Speaker 1: into the roll kinds. Those are some examples, etcetera. Kindaga,
Speaker 1: there's UM something I've done for our Bloomberg media team
Speaker 1: and it's it's actually an event next week that's coming
Speaker 1: up and catching up with the chief marketing officer of
Speaker 1: Union Square Hospitality UM talking with UM others female entrepreneurs,
Speaker 1: female founded firms. And what's interesting is we talked about
Speaker 1: this whole idea that companies still don't get women and
Speaker 1: aren't providing the opportunities. Why is that? Like, and they
Speaker 1: don't and they haven't figured out how to get the
Speaker 1: most out of us. I'm not saying me personally, but
Speaker 1: but in general, there's that feeling. Why is that? So?
Speaker 1: The the sort of core issue here is that we
Speaker 1: have focused largely companies have focused on fixing women versus
Speaker 1: fixing the system. And examples of that include things like,
Speaker 1: um uh, you know, teaching women to negotiate, or trying
Speaker 1: to get them to apply for more jobs, or changing
Speaker 1: the way that they speak. And this thing about that
Speaker 1: is is that women aren't broken. The system is broken,
Speaker 1: so we need to fix the system. That means and
Speaker 1: what's fixing the system means is actually ensuring equity within
Speaker 1: our decisions. Kadik, I'm wondering if you are optimistic to
Speaker 1: the extent that you think that pipeline equity won't need
Speaker 1: to exist in our lifetimes. Well, I don't think I
Speaker 1: would think that, because we're currently two hundred sixty eight
Speaker 1: years away from equity and some context, yeah so, and
Speaker 1: we added eleven years just in the last year, so
Speaker 1: I wouldn't say that we won't need it. However, what
Speaker 1: I will say is this, On average, our customers increase
Speaker 1: equity by sixty seven percent in the first three months
Speaker 1: on the platform. So there's a tremendous opportunity for us
Speaker 1: right now to catapult our time toward equity and really quickly.
Speaker 1: What we've found is that for every tempera cent increased
Speaker 1: in equity, there's a one or two percent increase in revenue.
Speaker 1: So it's not only the right thing to do, it's
Speaker 1: actually a huge and massive economic opportunity. Yeah. One of
Speaker 1: the things that we talked about this event that's coming
Speaker 1: up next week and you can find out more on
Speaker 1: LinkedIn or checked out my Twitter feed. But it's also
Speaker 1: we're seeing a lot more females fund you know, create firms,
Speaker 1: entrepreneurs because they've just had it with with the traditional space.
Speaker 1: We'll go ahead, well, no, no, please go ahead. Well,
Speaker 1: I was gonna say, of what I learned recently with
Speaker 1: the spacks of those have women on their on their boards,
Speaker 1: So we're seeing more gender equity at least when it
Speaker 1: comes to the new companies that are being created. Kind
Speaker 1: we have to run, but we'll catch up with you
Speaker 1: real soon. And I'm so glad we could, and I'm
Speaker 1: so glad to hear that you guys were at an
Speaker 1: event in person. Well, it's nice to see parts of
Speaker 1: our world reopen, even if we do so cautiously. Kadak
Speaker 1: Roy she's chief executive officer. She's the founder of Pipeline Equity.
Speaker 1: As we mentioned, um, they you're using leveraging AI to
Speaker 1: identify drive economic game through gender equity. Really cool stuff
Speaker 1: on the phone in New York City. Very cool. Interesting
Speaker 1: take us back quiz you can get up. But David
Speaker 1: Rubinstein said about like younger people on boards, like you
Speaker 1: really got to bring in a diversity of thought to
Speaker 1: really do perform well.