Women and future technology prospects

In the movie “Hidden Figures,” when NASA’s West Computing Group was about to be dismantled by the introduction of IBM computers, manager Dorothy Vaughn remained unfazed. She shows true leadership during this time of crisis. She’s ready, learning how to use a new computer, and more importantly, rallying her team to learn.

she tells them: “The only thing you have to do is learn everything you can.” And NASA quickly realized that only this team of women could tame the beast.

Technology has always been advancing rapidly. What does that mean for women and women leaders navigating this ever-changing landscape? How has it changed since Vaughn’s time, almost a century ago? What can founders, leaders, organizations and governments do to support women in the workplace of the future?

I think education played a big role in increasing female labor force participation to 37% in 2023. Although significant progress has been made in the education of girls in recent decades, they still need more education. More. India will play a major role in providing an inclusive and diverse talent pool to the world. To accelerate this, businesses could work more closely with governments to educate and empower girls in rural and semi-urban areas. Computer literacy, exposure to the latest technology, programming lessons, communication and life skills provide girls with more opportunities and enable them to make career decisions after education.

The latest edition of McKinsey’s Women in the Workplace report finds that while women are more motivated, their representation in the industry is increasing relatively slowly, only to shrink again at leadership levels. . The report says the glass ceiling is not a real barrier, but a “broken step” for women to advance into leadership roles.

As a founder (and proud former McKinsey alumnus), I am committed to providing ongoing mentorship and coaching programs, sponsorship opportunities, and focus groups to specifically identify and find answers to the barriers women face. We believe it is a collective responsibility to rebuild this broken scaffolding. Let’s consciously create an environment where they can work comfortably.

As a leader, I strongly believe that one of my responsibilities is to develop other leaders within my team. Identify individuals who can take on responsibility, establish a framework, and coach them to lead their team moving forward. While this is true for all, addressing the current lack of women in boardrooms by identifying women with leadership potential, providing them with guardrails, and providing them with a supportive work environment can do.

Additionally, while our organization strives to create an inclusive and collaborative environment, the responsibility to grow and thrive also rests on our own shoulders.

The current and future technology landscape is being disrupted by several tech and deep tech startups, but the playing field is large enough for more women to don the entrepreneurial hat. I believe there is. In India, we find that around 18% of startup founders are women, although the existing numbers are low. I’m glad that things like this are changing.

According to this Pitchbook dashboard, women won only 2% of the venture capital allocated to entrepreneurial ventures, and this number is similar in India. I myself have never experienced any bias or discrimination as a female co-founder seeking funding. If you build a strong product and have a compelling proposition, you’re a success.

That said, I think it would be great to see more work done in the startup ecosystem to foster more female-led startups and bring about equity.

Any time is a great time to learn new skills and strengthen existing ones. As AI and deep technology evolve, the market will see an increasing need for data scientists, machine learning specialists, UI/UX designers, cybersecurity experts, etc. According to the Future of Jobs Report 2023, “Demand for AI and machine learning specialists is expected to grow by 40%, or 1 million jobs, as the use of AI and machine learning drives the continued transformation of industries. And as organizations look to strengthen their diversity and inclusion narratives, significantly higher opportunities open up for women trained in technology. I encourage working women to constantly learn and stay updated to take on new responsibilities.

Several studies, including one by McKinsey, have proven that diverse and inclusive teams are smarter, handle facts better, and are more capable of innovation. Even at a leader level! A Credit Suisse analysis of 2,400 organizations found that organizations with at least one female director had higher return on equity and net profit growth.

This is what is written on the wall: We all need to step up to make it happen: organizations, governments, organizations, and even women themselves.