Ashley Lundström, Venture Lead at EQT Ventures, explains how AI can help create a more diverse VC ecosystem
Advances in artificial intelligence (AI) are bringing a host of debates on the future of work. Towards the end of last year, a key piece of McKinsey research reported that up to a third of all work activities across the globe may be automated by 2030, depending on the speed of adoption. Similar to the rise of agriculture machinery in the 19th century Industrial Revolution, automation threatens certain jobs yet has the potential to create countless more in their place.
AI also has the power to facilitate a more equal workplace. While certain forms of AI have rightly come under criticism for their bias, thanks to their makers, AI has the power to filter out human unconscious bias. This is particularly palpable when it comes to the prospect of investment opportunities – and much-needed. Last year, all-women founding teams secured just 2.2% of total VC funding while all-male teams secured about 79%. Today, venture capital is a people’s business. In practice, this can mean that, when evaluating entrepreneurs for potential investment, a VC may unwittingly favor those who resemble themselves. ...