Cadence Design Systems, Inc. recently announced the launch of a program called Fem.AI to advance women and the industry as a whole toward a more equitable space in tech, with a particular focus on opportunities in artificial intelligence. The Cadence Endowment Foundation has committed $20 million over the next ten years to the program, which will be used to provide charitable and product donations to organizations aligned with the Fem.AI mission. Fem.AI is committed to closing the gender gap in AI by encouraging industry to invest in nonprofits, supporting university students and related programs, supporting women-led businesses, driving product innovation, and leveraging industry influence.
Despite many efforts for gender equality over the years, the tech industry still lags behind on key metrics.
Cadence's research shows that there are three key "churn points" for women in their careers in technology and AI:
Higher education: In 2021, only about 20% of computer science graduates were women, while 45% of women who chose to enroll in STEM majors eventually transferred to other fields.
In the workplace: Women with STEM-related degrees face a higher risk of losing their jobs after graduation, with just over 20% of women in AI positions at United States tech companies.
Workplace retention: More than 56% of women may have left the tech industry mid-career, further exacerbating the gender gap.
Dr. Anirudh Devgan, President and CEO of Cadence, said, "In the current AI revolution, achieving true innovation requires the active participation of all talent. However, too many women are overlooked in the field of AI. Cadence is committed to closing the gender gap in this space through Fem.AI and hopes to be a catalyst for change in the tech industry by advocating for gender equality in the AI workforce and beyond.”
Figure: Cadence launches Fem.AI to advance gender equality in the AI industry (Photo: Reuters)
In 2023, Cadence launched a pilot program to evaluate how best to address this issue and provide grants to address these churn points. The company partners with several nonprofit organizations, including Break Through Tech, Fast Forward, Generation, the Global Semiconductor Alliance's Women's Leadership Initiative (WLI), the Last Mile Foundation Fund, Reboot Representation, and VC Include. As of this year, these grants have affected more than 14,000 women.
Future philanthropic donations will continue to be used to support organizations that address churn points and expand existing partnerships and build strategic alliances with more change-makers to achieve a fundamental shift in representation in the tech industry.
At the heart of the Fem.AI program is to unite the industry and work together to advance gender equality in the field of artificial intelligence. Tina Jones, senior vice president of global human resources at Cadence, said, "The rapid development of artificial intelligence presents tremendous opportunities in the labor market. However, if women continue to be excluded, this will hinder innovation and exacerbate labor shortages in the tech industry. Fem.AI is part of Cadence's commitment to advancing women into STEM fields, as well as other core inclusion initiatives at the company. We believe that innovation flourishes when different perspectives come together. Through Fem.AI, we hope to advance gender balance in the field of AI.”
