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Impact Investing and Equitable AI: What It Means for Marginalized Populations

Anika Heavener The SCAN Foundation

In the coming years, artificial intelligence (AI) is expected to create, displace, augment, and alter jobs in virtually every sector of the economy. Recent surveys indicate that while most business executives believe AI will improve profitability, over 75% of US consumers think AI will eliminate jobs (Forbes). Less attention has been paid to how marginalized populations, including low and moderate-income (LMI) adults and persons of color, will be affected by these changes – and whether impact investors will be able to help them adapt. Recent lawsuits alleging racial bias in AI algorithms for hiring and for healthcare decisions have highlighted the urgency of this topic.

With expertise spanning VC, philanthropy, healthcare, and financial services, this panel will challenge the impact investing community to think critically about its role at the dawn of the AI era. We will address questions such as: what does equitable AI mean and look like? Can impact investors influence the development of algorithms – and datasets – to mitigate harms and create opportunities for their priority populations? How might investors partner with industry players and regulators around shared objectives?

Attendees will hear how leading impact investors have incorporated AI into their strategies and develop an understanding of key considerations as they create their own AI-relevant approaches to impact investing.

Track

AI = Accelerating Impact

Format

Fireside chat (2 speakers)

Speakers

  • NameAnika Heavener
  • TitleVice President of Innovation and Investments
  • OrganizationThe SCAN Foundation
  • NameDaryn Dodson
  • TitleManaging Partner
  • OrganizationIllumen Capital

Description

In the coming years, artificial intelligence (AI) is expected to create, displace, augment, and alter jobs in virtually every sector of the economy. Recent surveys indicate that while most business executives believe AI will improve profitability, over 75% of US consumers think AI will eliminate jobs (Forbes). Less attention has been paid to how marginalized populations, including low and moderate-income (LMI) adults and persons of color, will be affected by these changes – and whether impact investors will be able to help them adapt. Recent lawsuits alleging racial bias in AI algorithms for hiring and for healthcare decisions have highlighted the urgency of this topic.

With expertise spanning VC, philanthropy, healthcare, and financial services, this panel will challenge the impact investing community to think critically about its role at the dawn of the AI era. We will address questions such as: what does equitable AI mean and look like? Can impact investors influence the development of algorithms – and datasets – to mitigate harms and create opportunities for their priority populations? How might investors partner with industry players and regulators around shared objectives?

Attendees will hear how leading impact investors have incorporated AI into their strategies and develop an understanding of key considerations as they create their own AI-relevant approaches to impact investing.

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