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Women In Tech
Women are still a minority in modern day tech with only 24% of tech jobs filled by women.
There are signs that things are beginning to change. UCAS data shows that the number of women taking computer science degrees is growing faster than any other university subject and computing degrees have seen a 17.5% growth in applications from women from 2022 to 2023.
A second positive change could come from the rise of AI. As Anne Boden, founder of Starling Bank and Chair of the Women-Led High-Growth Enterprise Taskforce, notes:
“In this new era of technology, the ratio and mix of skills required to design, develop and deploy systems that harness AI is going to evolve. It’s not just coding that is needed to power the AI revolution - capabilities like communication skills, creativity and problem solving are becoming ever more central.” A change that is already seeing more women move into this broader field.
Why Does Diversity Matter?
According to the Diversity Matters report by McKinsey, diversity correlates with better financial performance - companies in the top quartile for gender diversity are, on average, 15% more likely to have above average financial returns. Significantly the reverse is also true.
The Diversity Matters report highlights that women are still under-represented at the top tier of tech roles, where women account for just 27% of FTSE 100 CIO positions. Yet companies with female leadership teams outperformed less gender-diverse companies by a staggering 48%.
How Can AI Make the Tech Industry More Inclusive?
AI is undoubtedly changing the way we work. But while AI will affect the nature of work, it won’t replace people needed to work in tech. With the advanced ability of these AI models to produce text, code, and images, different roles and opportunities will open up using AI-generated output. Roles such as AI automation manager, conversation designer, bot builder, AI ethics officer, AI auditor, AI artist, AI personality Designer, Content Auditor, AI Trainer, etc.
Ergo, when it comes to AI-driven companies, what will count will be the ideas and execution, rather than the coding behind the scenes.
The Barriers Faced by Female Entrepreneurs
The UK will only be able to meet the goal of being a tech superpower if women in tech are supported and their entrepreneurial talent is encouraged to start high-growth businesses.
According to the British Business Bank (BBB), for every £1 of equity investment in the UK, all-female founder teams received 2p, all-male founder teams received 84p, and mixed-gender teams 14p. Fewer women apply for funding – and when they do, they are less likely to receive it, and tend to receive significantly less than men.
On top of access to finance, which is the biggest obstacle faced by female entrepreneurs when trying to launch a start-up, are challenges from societal norms, imposter syndrome and a lack of support and mentoring.
However, with more and more women deciding to start their own businesses, a whole host of networks have been created catering exclusively to female entrepreneurs. Some of these are:
AllBright
https://www.allbrightcollective.com/
AccelerateHER
British Association of Women Entrepreneurs
Everywoman
Female Founders Forum
https://www.tenentrepreneurs.org/aboutfff
Female Founders Rise
https://femalefoundersrise.com/
Fund Her North
HealthTech Women
STEMettes
Women In Tech UK
We Are Tech Women
Paving the way for future generations, notable female tech pioneers include: Dame Stephanie Shirley, Dr Sue Black, Martha Lane Fox, Eileen Burbage, Tabitha Goldstraub, Belinda Parmar, Dr Anne-Marie Imafidon and many others. All have made significant contributions to the UK tech sector, breaking barriers for women in tech.
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