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