tech
How AI Can Make Hiring and Promotion Fairer for Women
Research from Nationwide, Bain & Company and Cambridge Judge Business School finds responsible AI can narrow gaps in hiring, progression and leadership
TL;DR
- Responsible AI can help close gender gaps in financial services hiring, progression, and leadership.
- AI can reduce underrepresentation if implemented thoughtfully, rather than reinforcing existing inequalities.
- Women are underrepresented in senior roles in financial services, despite making up a significant portion of the workforce.
- Automation poses a higher risk to female employment than male employment in high-earning countries.
- There's an engagement gap with AI, with men more likely to experiment informally than women.
- Targeted training, access to tools, and sponsorship are crucial to close the AI engagement gap for women.
- The UK's Women in Finance Charter and principles-based AI regulation offer a model for adoption with trust.
- Firms should embed AI initiatives with clear inclusion goals, leadership accountability, and visible metrics.
- Boards should focus on measurable fairness in recruitment and promotion, audit outcomes by gender, and invest in reskilling plans.
- Governance with clear data controls, auditability, and accountability can reduce bias and build trust.