Has Artificial Intelligence Created Income Inequality?

Companies, organizations, and corporations are taking advantage of technology in response to the health crisis caused by the COVID-19 pandemic, accelerating interest in automation. In addition, there has been great optimism emphasizing its ability to positively impact different areas of the business, generating benefits in reducing costs, increasing efficiency and innovation, and improving service delivery. However, there is a gap between the perceived value of Artificial Intelligence and its actual implementation, even in the return on investment.

According to a survey conducted by Mazars jointly with Board Agenda and INSEAD, to CEOs, chief financial officers, and board members in 30 countries, reveals that 73% say they will implement technologies related to Artificial Intelligence in the next 12 months. However, we found that many organizations lack the knowledge and skills to make it happen. Several factors have been identified that will hinder the adoption of Artificial Intelligence.

On the other hand, 67% agree not to integrate Artificial Intelligence, so as not to cause strategic risks and that it affects the performance of the business. In addition, 80% consider that there are limitations in the adoption of Artificial Intelligence, while 73% say that this is due to lack of knowledge and 65% to lack of understanding. In fact, 76% agree that implementing Artificial Intelligence technologies takes significant ethical or cultural changes within the companies that will have to be managed, and finally, 54% agree that the COVID-19 pandemic has accelerated the adoption of Artificial Intelligence.

Artificial Intelligence Drastically Reduces Jobs in Women

The shift to the digital world has been affecting inequalities through employment, wages, and benefits, but these inequalities could be marked between professions, companies, and sectors, including between the economic structures of different countries. That is why, at a given time and country, digital transformation could probably lead to an increase or decrease in inequality, according to UNCTAD's Report on Technology and Information 2021 titled "Riding the Wave of Technology, Innovation with Equity."

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Artificial Intelligence Needs the Feminine Side to Evolve

The COVID-19 pandemic and confinement have led the world to move towards digitalization quickly. However, the impact of Artificial Intelligence on the priorities of society, the underrepresentation of women in research means that needs and perspectives are overlooked, which impact our daily lives.

Limiting women's career advancement remains a major obstacle to women's careers. That is why women have reached numerical parity between 45 and 55%, at undergraduate study levels and are on the verge of achieving it at doctoral levels with 44%, according to the UNESCO Institute for Statistics. In such a way, the gender gap widens as women advance in their professional careers.

On the other hand, it is essential to involve women in Artificial Intelligence. There is even an organization dedicated to publishing their career and encouraging more young people to venture into this professional area. This Women AI initiative is located in Europe and New Zealand and aims to empower women in the field of Artificial Intelligence.