Female-founded AI startups win just 2% of funding deals in UK
Female-founded AI startups win just 2% of funding deals in UK

Female-founded AI startups win just 2% of funding deals in UK

  • Female-founded AI startups in the UK account for just 2% of funding deals over the past decade, according to a report by the Alan Turing Institute.

  • When female-founded companies do secure funding, they raise an average of £1.3m per deal, compared to £8.6m raised by all-male founder teams.

  • The report highlights the urgent need for gender balance in AI investment, as the industry is predicted to grow significantly in the coming years.

  • Recommendations to improve gender balance include improving recruitment, monitoring investment practices, and diversifying the ecosystem.

  • There is an increasing demand for generative AI products, with leading tech companies investing heavily.

  • Gender diversity gaps and uneven progress rates for ethnic and racial groups are observed across investment firms.

  • AI products have shown biases, such as passport checkers working less efficiently with darker skin and tools reinforcing gender stereotypes.

  • In 2019, a UN agency found that assigning female genders to digital assistants like Siri and Alexa perpetuated harmful gender biases.

Source : https://www.theguardian.com/technology/2023/oct/04/female-founded-ai-startups-win-just-2-of-funding-deals-in-uk

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