Introducing Fem.AI: Reshaping the Tech/AI Workforce for a More Equitable Future

Rhea-AI Summary

Cadence Design Systems has launched Fem.AI, an initiative aimed at reshaping the tech/AI workforce for a more equitable future. The program addresses three key areas where women are losing traction in the tech/AI ecosystem: completing higher education, accessing first jobs, and retaining STEM careers.

Fem.AI aims to empower women through partnerships with nonprofit organizations, pathways to employment, scholarships, and collaboration with the Cadence Academic Network. The initiative has partnered with seven nonprofits focused on increasing women's representation in STEM degrees, first jobs, and leadership roles.

An upcoming Fem.AI Summit will bring together industry leaders to address gender disparity in high tech and AI, brainstorming actionable solutions to promote gender equality. Cadence calls for collective action to clear the path and catalyze the role of women in the AI revolution.

NORTHAMPTON, MA / ACCESSWIRE / September 23, 2024 / The Cadence Giving Foundation was founded in 2022 to support critical needs in communities around the world with a focus on access to STEM education, DEI in STEM, and climate and sustainability. We are excited to unveil an exciting initiative our team and our partners have been working tirelessly on to create opportunities for women in tech and artificial intelligence (AI), driving a future workforce that is inclusive, innovative, and career-ready.

Cadence is launching Fem.AI to change the workforce of tech and AI to propel women and the industry toward a more equitable tech sector. Despite years of effort, the tech industry is lagging on critical measures of gender equity. Initial research by Cadence has identified three "leakage points" in the tech/AI ecosystem where women are losing traction:

• Completing Higher Education: In 2021, approximately 20% of computer science graduates were female, while 45% of women who start college as STEM majors leave to pursue another degree.

• Accessing First Jobs: Women with STEM-related degrees face more unemployment challenges post-graduation, with women holding just over 20% of AI roles in US tech companies.

• Retaining STEM Careers: Over 56% of women in tech are likely to leave the industry before mid-career, further exacerbating the gender gap.

Addressing this imbalance now, in the dawn of a new technological era, is crucial for women's economic well-being and for shaping inclusive and equitable innovations that serve society. By investing in nonprofits, championing women-led ventures, driving product innovation, and leveraging peer influence, Fem.AI advances women to the forefront in education, hiring, leadership, and innovation.

Through Fem.AI, we aim to empower through:

• Partnerships: Build strategic alliances to drive transformative change in STEM education and careers, and elevate opportunities in AI for impactful growth and inclusive success.

• Pathways to Employment: Provide mentorship, returnships, and pathways to thrive in tech and AI, unlocking opportunities and ensuring advancement and impact with every step.

• Scholarships: Provide scholarships that embrace a spectrum of backgrounds, experiences, and ideas for transformative impact.

• Cadence Academic Network: Collaborate with the academic community worldwide to ignite a passion for technology education and foster future innovators.

We've partnered with seven nonprofit organizations focused on increasing the number of women obtaining STEM degrees and their first jobs, as well as increasing representation at the leadership level: Break Through Tech, Last Mile Education Fund, Fast ForwardGeneration,VC Include,Global Semiconductor Alliance, and Reboot Representation.

We're excited to host the Fem.AI Summit next month, which will bring together leadership across the tech landscape to inform and shape a future where women are fully engaged in the ecosystem of AI innovation. The summit's mission is to enlighten, empower, and mobilize stakeholders across various industries on the issue of gender disparity in high tech, specifically in AI, while also brainstorming actionable solutions to promote gender equality. This conference marks the kickoff of a movement aimed at breaking the cycle of inequity and initiating steps toward a more inclusive future for women in high-tech and AI.

This is just the start, and we must take collective action now. I hope that you will join Cadence to ensure that we clear the path and catalyze the role of women in the AI revolution.

View additional multimedia and more ESG storytelling from Cadence Design Systems on 3blmedia.com.

Contact Info:
Spokesperson: Cadence Design Systems
Website: https://www.3blmedia.com/profiles/cadence-design-systems
Email: info@3blmedia.com

SOURCE: Cadence Design Systems

View the original press release on accesswire.com

FAQ

What is Fem.AI and what is its purpose?

Fem.AI is an initiative launched by Cadence Design Systems (CDNS) to reshape the tech/AI workforce for a more equitable future. Its purpose is to address gender disparities in tech and AI by empowering women through partnerships, employment pathways, scholarships, and academic collaborations.

What are the three 'leakage points' identified by Cadence for women in tech/AI?

Cadence identified three 'leakage points' for women in tech/AI: 1) Completing higher education, with only 20% of computer science graduates being female in 2021; 2) Accessing first jobs, with women holding just over 20% of AI roles in US tech companies; and 3) Retaining STEM careers, with over 56% of women likely to leave the tech industry before mid-career.

Which nonprofit organizations has Fem.AI partnered with?

Fem.AI has partnered with seven nonprofit organizations: Break Through Tech, Last Mile Education Fund, Fast Forward, Generation, VC Include, Global Semiconductor Alliance, and Reboot Representation. These organizations focus on increasing the number of women obtaining STEM degrees, securing their first jobs, and increasing representation at the leadership level.

What is the Fem.AI Summit and when will it take place?

The Fem.AI Summit is an upcoming event that will bring together leadership across the tech landscape to address gender disparity in high tech and AI. It aims to enlighten, empower, and mobilize stakeholders while brainstorming actionable solutions to promote gender equality. The summit is scheduled to take place next month, marking the kickoff of a movement towards a more inclusive future for women in high-tech and AI.