Black-owned businesses can help close the racial wealth gap in the United States, a report has found. The “Gather Against the Gap” report marked a significant step towards addressing the racial wealth gap that critically impacts Black Americans. The Racial Wealth Gap The data found a $10 trillion racial wealth gap in the United States. The gap was illustrated by the median wealth of Black households at $20,000, in contrast to $180,000 for white households. This wealth disparity, coupled with an employment and income gap, significantly hinders the economic progress
The Congressional Black Caucus (CBC) is leading a significant initiative to ensure diversity, equity, and inclusion (DEI) remain central as AI technology evolves. CBC Chairman Steven Horsford, D-Nev., and Rep. Yvette Clarke, D-N.Y., announced the launch of an artificial intelligence policy series in a recent virtual press conference. The AI Policy Series The series aims to shield Black Americans from potential injustices arising from AI systems. Recognizing the influence of AI technologies, Horsford emphasized Congress’ responsibility to lead the way in understanding and shaping trends that profoundly affect their constituents’ lives and livelihoods. Clarke told reporters, “True innovation
Crowe LLP, in collaboration with Intuit Inc., has launched an innovative initiative called Crowe Beacon for minority-owned businesses. The Crowe Beacon Crowe LLP is a leading public accounting, consulting, and technology firm, and Intuit Inc. is the technology platform behind Intuit QuickBooks, TurboTax, Credit Karma, and Mailchimp. This initiative, announced in Chicago as part of Black History Month celebrations, aims to empower minority-owned small businesses by enhancing their financial maturity and capital readiness. The Crowe Beacon small business advancement initiative responds to the challenges faced by minority-owned businesses. The initative
BLKFAM, a new streaming service backed by Whoopi Goldberg and specifically designed to cater to Black families, has officially launched. Goldberg was an equity investor and creative director in BLKFAM, which aims to provide over 1,000 hours of child-friendly animation and other content. BLKFAM The unique platform is the first and only Black-owned and Black-focused family streaming service. Goldberg’s involvement is both a business venture and a personal commitment. “I’m excited to be involved with BLKFAM from the ground floor. I’m proud to be a part of something my great-grandkids
Pinterest’s use of artificial intelligence (AI)-powered inclusive filters is proving popular among its Gen Z users. Pinterest Using AI Pinterest is a digital inspiration space with nearly 500 million users that aims to enhance user satisfaction with inclusive AI. The inception of AI-powered filters in 2018 marked a significant stride for Pinterest. These filters, designed for skin tone, body type, and hair patterns, enable users to find images resonating with their personal features. According to Business of Fashion, results show that in 2023 alone, searches utilizing hair-pattern filters surged by 41%,
Joe Cecala and Dwain J. Kyles are launching The Dream Exchange, which is set to become the first Black-owned stock exchange in the United States. Dr. Martin Luther King Jr’s Influence The two, influenced by the civil rights movement and drawing inspiration from Dr. Martin Luther King Jr., aim to bridge the gap between Main Street and Wall Street, creating a more inclusive financial marketplace. “What he [Dr. King] began to understand in the later years of his life [is] that you were not going to achieve equality anywhere in
Helen Huang and Sefunmi Osinaike are redefining inclusivity in the tech industry with Co.Lab, whose hands-on mentorship-based programs are helping Black and underrepresented Canadians get a headstart in tech. Co.Lab Launched three years ago, Co.Lab has already made significant waves in the tech community, breaking barriers and fostering a sense of belonging among minorities. “Our entire motto at Co.Lab is you belong in tech,” Huang told Now Toronto. “When you’re outside the club, everything inside seems so mysterious. All you do is hyper-fixate on the things you don’t feel like you
Rise Up Crowdfunding has collaborated with The Coca-Cola Company to transform funding for women and minority-owned companies. Rise Up Crowdfunding, a FINRA and SEC registered funding portal, is on a mission to enable people to invest in diverse-owned small businesses and the future those businesses believe in. The Collaboration With Coca-Cola Company In collaboration with The Coca-Cola Company, the platform is giving women and minority-owned companies the chance to now raise up to $5 million through equity crowdfunding. “Although women and minority-led startups are launching daily, women receive less than
Employees globally are voicing a need for more diverse and equitable workplaces despite the recent backlash against DEI initiatives, a survey has found. The How to Talk About Diversity With Employees to Achieve Your Company’s Objectives survey by Catalyst had over 6000 employees across 11 countries reveal their thoughts. A Call For Vocal DEI Efforts The survey revealed that 9 in 10 (93%) employees believe it’s crucial for organizations to be vocal about their DEI efforts. Additionally, 3 in 4 (76%) of the respondents claimed that organizations should actively strive
LGBTQ History Month is an annual month-long observance of the community and related civil rights movements, founded in 1994. To celebrate the achievements of Black LGBTQ+ individuals in the tech industry, we are highlighting some figures who have used their platforms to advocate for diversity, equality, and social change. Mia Cooley Cooley’s creation of xHood marks a significant contribution to the Black queer community. xHood is the first organization dedicated to supporting Black queer family building and nurturing journeys. The platform offers various resources, including forums, virtual baby showers, and
