Women in tech and finance at higher risk from AI job losses, report says

"Mid-career women with at least five years' experience are being overlooked for digital roles in the tech and financial and professional services sectors, where they are traditionally underrepresented, according to the report by the City of London Corporation. The governing body that runs the capital's Square Mile found female applicants were discriminated against by rigid, and sometimes automated, screening of their CVs, which did not take into account career gaps related to caring for children or relatives, or only narrowly considered their professional experience."

"To reverse the trend, the corporation is calling on employers to focus on re-skilling female workers not currently in technical roles, particularly those in clerical positions most at risk of being displaced by automation. It is estimated that about 119,000 clerical roles in tech and the financial and professional service sectors, predominantly carried out by women, will be displaced by automation over the next decade. Reskilling those affected by these job losses could save companies from making redundancy payments totalling as much as 757m, the report found."

"Upskilling staff would allow employers to focus on candidates' potential rather than their past technical experience, the report found. It is estimated that up to 60,000 women in tech leave their roles each year for reasons including lack of advancement, lack of recognition and inadequate pay."

Experienced mid-career women with at least five years' experience are being overlooked for digital roles in tech, financial and professional services where women are traditionally underrepresented. Rigid and sometimes automated CV screening discriminates by failing to account for career gaps related to childcare or caregiving and by narrowly assessing prior technical experience. Approximately 119,000 clerical roles, predominantly held by women, will be displaced by automation over the next decade. Reskilling and upskilling displaced workers could avoid roughly £757m in redundancy costs and enable employers to prioritise candidates' potential. Up to 60,000 women leave tech roles annually due to limited advancement, recognition and inadequate pay.

Read at www.theguardian.com