Business leaders have acknowledged that their companies are lagging behind in their diversity efforts, according to a new report by The IN Group. The “UNLOCKED: Tech and the Boardroom” report surveyed 705 C-level executives in the UK, US, Germany and Netherlands. In today’s competitive business environment, diversity, equity, and inclusion (DEI) have become critical components of organizational success, however companies are falling behind. We’re falling behind, Say C-level execs In the report, 3 in 4 (76%) respondents confirmed that they have a diversity and inclusion strategy in place when it
Workplace diversity, equity, and inclusion (DEI) initiatives faced a significant setback after the US Supreme Court’s ruling on affirmative action in college admissions in 2023. However, experts now report that employers’ interest in DEI programs is now resurging, according to Law360. The Initial Impact of the Supreme Court’s Ruling The conservative-majority Supreme Court declared race-conscious admissions policies at Harvard University and the University of North Carolina unconstitutional. Though the ruling targeted higher education, its effects quickly spread to the corporate world. Legal threats led many employers to pull back on
Seven organizations focused on diversity in tech have announced the formation of the Diversity Data Alliance to address funding disparities faced by underrepresented groups. The alliance comprises All Raise, Diversity VC, BLCK VC, StartOut, 2Gether-International, Vets in Tech, and Somos VC. Standardizing Data for a Unified Approach The Diversity Data Alliance has agreed upon a set of standardized demographic data points to be collected across each member organization. This initiative, which began in the spring of 2023 and saw its implementation in 2024, focuses on capturing demographic information, such as race, gender identity, sexual orientation, educational attainment,
Nearly 9 in 10 (87%) firms in the UK now prioritize Diversity, Equity, and Inclusion (DEI), a new report claims, with AI tools playing a significant role in this transformation. The findings come from a recent Workday survey, Global Blueprint for Belonging and Diversity, with views from CEOs and leaders in HR, IT, and finance. Can AI Support DEI Programs? The report found that overall, having the right technology stack is essential and can be critical in enabling DEI. In particular, it was found that there is a significant correlation between AI adoption and effective
Goldman Sachs, Bank of America, and JP Morgan are among the Wall Street giants that have modified their diversity, equity, and inclusion (DEI) initiatives. As DEI faces scrutiny and right-wing backlash, with accusations of reverse discrimination, companies are cautiously navigating the landscape to avoid potential legal pitfalls. Changes To DEI Programs Goldman Sachs Group Inc. has changed its “Possibilities Summit” from exclusively being for Black college students to opening the program to white students. According to Bloomberg, lawyers have also advised senior executives to remove references to race and gender
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
MeVitae, a UK-based Diversity, Equity, and Inclusion (DEI) startup, has successfully secured a $1.8 million (€1.7 million) seed round spearheaded by Apex Black. MeVitae Founded by Oxford University alumni, Neuroscientist Riham Satti and Computer Scientist Vivek Doraiswamy, MeVitae specializes in offering a comprehensive DEI ecosystem of HR tools. These tools, developed from a blend of AI ethics and neuroscience perspectives, are designed to detect and mitigate biases, to enhance smarter, faster, and fairer hiring decisions. “Growing up, I never considered that my gender or skin color might impede opportunities. It
Braze has expanded its product grant program, previously known as Tech for Black Founders – now called Tech for an Equitable Future. Braze is a comprehensive customer engagement platform that powers relevant and memorable experiences between consumers and the brands they love. Tech for Black Founders was launched in 2020 to address findings that only 1% of US founders backed by venture capital are Black. Today Braze’s program has 24 Black-founded businesses, including ten women-founded startups, active in the program, totaling $735,00 in annualized Braze product value. Tech For An Equitable
Issac Hayes III’s social media platform Fanbase has announced its current equity crowdfunding round has crossed $4.50M. Fanbase Platform Fanbase, launched by Hayes, is a social media platform designed to enable Black creators to cultivate their audiences and monetize their contributions effectively. According to a 2021 study by The Influencer League involving US-based creators, the pay gap between white influencers and influencers of color is 29%. When narrowed further between white and Black influencers, the margin rises to 35%. Fanbase differentiates from other platforms that need brand partnerships or ad
Clean energy company Husk Power Systems has raised $103 million in equity and debt to launch over 1,000 new solar minigrids, electrifying rural Sub-Saharan Africa and South Asia communities. Solar mini-grids Husk Power Systems Husk Power is the leading rural energy services company in weak-grid and off-grid communities in Africa and Asia. The company was founded in 2008 to provide reliable power to rural communities and businesses from renewable energy sources at affordable prices. The company does this through solar minigrids – a set of small-scale electricity generators and energy
