Diverse voices must be included in leading AI growth and regulation to benefit everyone

Image credits: IntoPro/Getty Images

For the past 25 years, I have been a technology investor, founder, organizer, strategist, and academic. I am proud to be part of a growing group of diverse leaders who represent all of us and form an innovation system that benefits us all. But in recent months, I’ve become increasingly troubled by the absence of Latinx/e founders and leaders from today’s very important conversations about AI growth and regulation.

As AI’s presence in our lives grows, so too does the number of diverse founders leveraging AI to develop positive, socially impactful services and products. Because their unique life experiences influence the ingenuity of these founders, their startups often address important social needs. Society benefits when diverse founders succeed.

Yet their voices and perspectives are largely absent from policy discussions and decisions that will shape the future of AI and its impact on society.

Unfortunately, such exclusion is part of a broader pattern within the startup and venture ecosystem. In the United States, Latino/a people make up over 20% of the US population. They founded half of all new businesses in the past decade (19% of them related to technology) and contribute $3.2 trillion annually to the nation’s economy. As a group, we represent the world’s fifth largest economy.

However, despite their entrepreneurial talent and determination, Latinx/e founders remain ignored and undervalued, receiving less than 2% of startup investment funding. Even if they receive it, it is usually only a fraction of what is given to their non-Hispanic counterparts.

Although historically underrepresented, Latinos/e-Americans are persevering and poised to become a significant force in the future of the United States. Enrollment in Latino/a universities has more than doubled since 2000, and enrollment in science and engineering programs has increased by 65% ​​over the past decade.

Guillermo Diaz Jr., former Cisco chief information officer (CIO), calls today’s surge in AI and technology and Latino email’s education, economic power, and employment a “lightspeed moment,” He pointed out that the improvement of leadership in email technology is of great significance.a richer america

When it comes to AI regulation, I understand and share the commonly expressed concerns and appreciate the recent calls for swift regulation. However, it is incomprehensible that Latinx/electronic and diverse groups are excluded from regulatory discussions.

Last year, the Biden administration discussed AI regulation with leaders from companies such as OpenAI, Google, Amazon, Meta, and Microsoft, as well as a handful of academics and advocates. However, this group was too narrow. Underrepresented communities and our allies generally have a nuanced view of AI.

On the other hand, we are rightly concerned that AI technology has the potential to perpetuate bias and discrimination. On the other hand, we want to ensure that diverse communities, founders, consumers, and all Americans can benefit from the many positive implementation possibilities of AI. Regulations enacted without a broad and nuanced perspective can reduce the benefits of AI to diverse communities and worsen social and economic outcomes for everyone.

The debate over the growth and regulation of AI is fundamentally a debate about the future of society, and in that future diverse groups will play important roles. Diverse and forward-thinking startup founders and leaders will simultaneously develop the right regulatory framework for AI technologies while giving diverse founders a voice before regulators finalize significant policy changes. We need to discuss how we can create conditions that encourage them to have a meaningful role and play a meaningful role. Evolution of AI.

In addition to creating thoughtful guardrails, policymakers should also think about incentives such as tax credits, STEM education grants, and training and recruitment programs to increase the representation, contributions, and contributions of diverse groups within the growing AI sector. You need to create a path to increasing your success.

Like any innovative technology, advanced AI comes with risks and incredibly positive possibilities for everyone. That means all of us, as legislators, need input into AI-related policy. Including diverse startup founders and leaders is essential when considering AI incentives and regulations that will shape our collective future.