Tag: 3BL

Lily Zheng| Portfolio Manager—China Net Zero Solutions; Senior Research Analyst
Kathleen Dumes, CFA| Responsible Investing Research Analyst—Fixed Income Responsible Investing

What do near-term pressures on China’s battery electric vehicle industry mean for its long-term outlook?

China has quickly risen to dominate the global battery electric-vehicle (BEV) industry, both as a manufacturer and as a market. Its dominance looks set to continue, but the industry—in China and elsewhere—faces headwinds. The challenge for investors is to understand and navigate the short-term risks and to position themselves for long-term opportunities.

The trend in global autos away from internal combustion engines (ICE) to electric vehicles (EVs) is well established and is forecast to grow as countries continue efforts to reduce their carbon dioxide emissions. Among EVs, the strong growth in BEVs—as distinct from hybrid electric vehicles and plug-in hybrid electric vehicles—looks set to continue (See display 1 above).

China dominates the BEV segment in terms of both manufacturing and market demand. But its output in this area, while still well ahead of that of other countries, has recently slowed (See display 2 above).

This reflects a change in the dynamics of the industry’s growth. To understand the investment implications, it helps to know a little about how China came to dominate the BEV industry, and how the growth outlook is, in our view, becoming more nuanced.

Rapid Rise Hits Speed Bumps

China’s rise to BEV dominance began in the early 2000s, when the government realized that the country’s traditional ICE auto manufacturing base, while strong, was unlikely to overtake the US, European and Japanese automakers. As Japan already had an advantage in hybrid vehicles, one area in which China was likely to compete strongly was BEVs.

This new technology required large-scale innovation and investment. The government—motivated by environmental as well as economic benefits—provided generous subsidies. It even imported competition to stimulate growth, by allowing BEV maker Tesla and other Western auto companies to set up factories in China.

The government also boosted manufacturers of BEVs’ most crucial component: batteries. China is now a leader in lithium iron phosphate (LFP) batteries which, before advances made possible by Chinese research, had been considered inferior to the lithium nickel manganese cobalt batteries favored in the West.

In 2023, China produced 6.2 million BEVs, more than half the global total of 11.2 million and many more than Western Europe (2 million), the United States (1.2 million) and Japan (87,000). But there have been speed bumps: the number of Chinese BEV makers peaked at 500 in 2019 and has since fallen to 100 or so. More rationalization is expected, for a number of reasons.

China’s BEV Makers Face Short-Term Challenges

BEV sales growth has recently slowed, mostly due to competition within China from cheaper plug-in hybrids and limited battery-charging infrastructure in China’s lower-tier cities.

This has led to price-cutting and moves to protect margins. At the same time, China’s BEV exports, which have grown strongly since 2020, are meeting resistance in key markets, with higher tariffs imposed by the European Union (EU), Canada and the US.

These are short- to medium-term challenges; we think the longer-term outlook is more encouraging. The impact of Western trade barriers, for example, may be softened by strong growth in Chinese BEV exports to emerging markets. More fundamentally, the Chinese BEV industry has reached the scale, quality and sophistication it needs to compete effectively in the long term.

Structural Advantages May Help in the Long Term

This does not seem to be well understood outside China. The aim of the US tariffs, for example, is to counter “extensive subsidies and non-market practices” that have supported China’s BEV exports. But, as of 2023, China’s EV manufacturers no longer receive national subsidies, and subsidies for the sale of EV batteries ended in 2018.

The country’s leadership in LFP batteries and dominance of the battery supply chain, from raw materials to production, are key structural advantages, in our analysis. LFPs’ cheapness keeps vehicle prices low, and their relative safety is a selling point. Many US BEV makers source their batteries from South Korea and elsewhere, which involves supply-chain risks and small-scale, high-cost suppliers.

We think a major risk for US and European automakers is that tariffs on Chinese BEVs could ease the pressure on them to improve their own EV batteries, and that they may rely instead on their traditional dominance of the large but low-growth ICE markets. Long-term, we see China’s low-cost, high-quality BEVs as challenging ICE makers and forcing them to lower their prices and accept thinner margins.

Next Consolidation Could Yield Opportunities

The Chinese BEV industry is following the growth trajectory of older Chinese industries such as home appliances, textiles and machinery—fast, subsidized growth in the early stages followed by price competition and rationalization. The next phase of consolidation may take time, given the number of players still in the industry (See display 3 above).

In our view, investors should monitor these changes and look for early signs—such as moderating price competition, stable market share and strong cash flows—that the industry is maturing. As we see it, the key will to be to research the market and individual companies intensively and to invest selectively.

This also applies to investing in US and European automakers, which face short-term risks. US automakers must grow their EV businesses to secure their long-term futures, but rating agencies and investors demand strong cash flow and profitability. The EU’s climate goals put its automakers at risk of penalties if sales of EVs—which are currently margin dilutive—don’t increase significantly.

We believe that Western automakers will continue to evolve their business models and differentiate themselves in response to the greening of global transportation. As the global market develops, we regard Chinese BEV makers with integrated battery operations, and battery manufacturers with a broad spread of clients both inside China and globally, as companies worth watching.

The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams. Views are subject to revision over time.

Learn more about AB’s approach to responsibility here.

Earlier this year, The Washing Machine Project, a grassroots organization that provides off-grid manual washing machines to people in low-income and displaced communities, announced it is collaborating with the Whirlpool Foundation to deliver thousands of manual washing machines to communities and households across the world over the next five years. The work is expected to impact an estimated 150,000 people and address a significant barrier to their advancement and quality of life. Recognized by The Washing Machine Project and the Whirlpool Foundation as the ‘Global Washing Divide,’ this collaboration will focus on the estimated 60% of the world’s population–or 5 billion people–that rely on washing clothes by hand. 

Navjot Sawhney, Founder of The Washing Machine Project, and Deb O’Connor, Managing Director of the Whirlpool Foundation, joined Purpose360 to tell the story of how they came together to address the Global Washing Divide, the strengths each of their organizations bring to the table and the impact they are making together to reclaim time and improve lives.  

Listen to the podcast here

About Whirlpool Corporation

Whirlpool Corporation (NYSE: WHR) is a leading kitchen and laundry appliance company, in constant pursuit of improving life at home and inspiring generations with our brands. The company is driving meaningful innovation to meet the evolving needs of consumers through its iconic brand portfolio, including Whirlpool, KitchenAid, JennAir, Maytag, Amana, Brastemp, Consul, and InSinkErator. In 2023, the company reported approximately $19 billion in annual sales, 59,000 employees, and 55 manufacturing and technology research centers.  Additional information about the company can be found at WhirlpoolCorp.com.

As a new school year kicks off, freshmen at Johnson C. Smith University (JCSU) are receiving more than just a warm welcome – they’re getting a critical tool for their academic success. On Sept. 9, Duke Energy volunteers handed out laptops to 225 students who arrived on campus without one.

This initiative is part of a partnership with E2D, short for Eliminate the Digital Divide, a Charlotte, N.C., nonprofit that refurbishes donated laptops in student-led technology labs and distributes them to those in need. With help from Duke Energy and other corporate sponsors, E2D has distributed at least 48,000 computers since 2013.

The company’s recent pledge of more than 16,000 laptops over three years will enable E2D to further close the opportunity gap between those who have computers and those who do not. These devices will be distributed to 10 historically Black colleges and universities (HBCUs) across North Carolina.

“With Duke Energy’s commitment to donating laptops and volunteer hours, we’ll be bridging the digital divide for a much larger swath of the state,” said E2D President Pat Millen.

Closing the digital divide

College students without a laptop face significant disadvantages, including limited access to online resources and a lack of flexibility in their study environment. These issues can lead to increased stress and negatively impact their academic performance.

Receiving a laptop can have a profound and immediate impact on students without one, said John Oliver, Ph.D., project manager of JCSU’s Charlotte’s Inclusive Tech-Innovation Project (CITIP).

“The joy on students’ faces when they receive their laptops speaks volumes about the difference this program is making,” Oliver said. “Many express their shock and appreciation that someone they’ve never met is thoughtful enough to provide them with this vital resource.”

Duke Energy’s involvement with E2D began five years ago when Dominique Johnson, vice president of the Duke Energy Foundation, connected with Millen at a Charlotte event. She was immediately struck by the potential of E2D’s mission, which aligns with the Foundation’s long-standing focus on economic mobility and STEM education.

“College is hard even when you do have the resources,” she said. “Some of these students were doing schoolwork on their phones.”

Johnson found an ally in Duke Energy’s Mark Cook, managing director of IT infrastructure, operations and CIOPS. As someone who started his IT career providing help desk (and desk-side) support, he understands the imperative of working technology. Cook and his team navigated internal processes to enable laptop donations to E2D, which paved the way for a commitment of more than 16,000 computers over three years.

Equipping students with the tools to succeed

The need for this initiative was underscored in 2023 when over a third of JCSU’s students arrived on campus without a personal laptop. Within three weeks of learning about the situation, E2D identified the students in need and distributed laptops, ensuring that these students had the tools they required to succeed.

To assess whether JCSU’s situation was unique, E2D hired a staff member to survey other HBCUs in the state. The findings were clear – almost every school faced similar challenges.

This realization spurred Duke Energy to broaden its support, integrating the program into its broader mission of promoting economic mobility, climate resilience, and opportunity and inclusion.

In 2021, the city of Charlotte, under Mayor Vi Lyles’ leadership, launched the Mayor’s Racial Equity Initiative – a $250 million effort to address systemic inequities. One of the key goals is bridging the digital divide, a mission that E2D is advancing with help from corporate sponsors.

Beyond laptops, E2D also provides workforce opportunities by hiring young staff, many from Title I high schools, to refurbish the laptops, equipping them with tech skills and a paying job. 

“These high schoolers are in the lab, learning valuable STEM skills that will be relevant across industries, all while earning more than minimum wage,” Johnson noted.

Millen hopes Duke Energy’s leadership in this space will inspire other corporations to follow suit.

“We’re leveraging Duke Energy’s example to encourage other companies to join this effort,” he said. “Duke is setting a new standard for corporate responsibility in North Carolina.”

Looking ahead, Millen is optimistic. “The goal is that everyone who needs a computer gets one. And that’s not just wishful thinking – it’s something we can achieve in the next five to 10 years. Every computer we provide could be the one that changes someone’s life forever.”

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Cascale members were key speakers at the inaugural Sourcing Journal x Rivet Sustainability Summit in Los Angeles. The event was held at the historic Herald Examiner Building, now home to one of Arizona State University’s two Fashion Institute of Design and Merchandising campuses; in Los Angeles, the university is establishing a sustainable fashion lab.

After a welcome from Sourcing Journal’s Editor-in-Chief, Peter Sedera, who promised the day’s speakers were “at the tip of the spear when it comes to transforming the industry,” he was joined for a conversation with Kathleen Talbot, Chief Sustainability Officer & Vice President, Operations at Reformation, a Cascale member. Circularity was a key subject: The company has “deep roots in vintage and deadstock sourcing” and had already surpassed its goal of manufacturing 10% of products from these materials by 2025. It has also set goals for full circularity and climate positivity, for which it is on track to achieve by next year.

A discussion between Cascale member Kim Kitchings, Senior Vice President, Consumer Marketing, Cotton Incorporated and Anna Copilevitz, Lead Program Manager, Zappos for Good, focused on their collaboration through the Cotton’s Blue Jeans Go Green program. The program incentivizes consumers to return their used denim, which is then recycled into products like insulation. Over 18 years of operation, Cotton Inc. has diverted over 2,600 tons of denim from landfills and manufactured 11 million square feet of insulation; the organization now makes dog beds for animal shelters in the U.S. and beds for unhoused people in the UK.

Later, Jeff Frye, Vice President, Sustainability, Innovation, Product Development & Procurement, and Purchasing at Kontoor Brands, also a Cascale member, joined Angela Velasquez, Executive Editor at Rivet, for a discussion of the company’s sustainability practices, which include water reduction, preferred materials, and a Caltech collab on denim printing. Sustainability is a “dynamic process of continual improvement,” Frye said. Additional speakers included Katina Boutis, Director, Sustainability at Everlane, and Boris Mercier, Senior Vice President, Marketing at Recover, both Cascale members.

Anchoring the conversation to location, Mindy McIntyre, Chief Deputy Director at CalRecycle and Nancy Sutley, Deputy Mayor, Energy & Sustainability at the City of Los Angeles, joined Kate Nishimura, Senior News & Features Editor at Sourcing Journal, for a discussion of “California and the National Implications.” The focus was on SB 707, the Responsible Textile Recovery Act, which reflects principles of extended producer responsibility (EPR); Governor Newsom has until October 1st to sign the bill into law. With the only other enacted EPR law for textiles in place in France, McIntyre said, “What we do in California impacts not only nationally but globally.”

Baker Tilly’s podcast series specifically for professionals in the multifamily housing industry

On this episode of BuzzHouse, hosts Donald Bernards and Garrick Gibson sit down with Nate Helbach, founder and CEO of Neutral, a regenerative development company that crafts financially responsible, sustainable living spaces. Over the course of the episode, Don and Garrick talk with Nate about the thesis he utilizes for Neutral’s strategy, the philosophy and benefits of using sustainable materials like mass timber, Neutral’s use of renewable energy sources and more. Press play and discover this informative and enlightening episode!

Special guest

Nate Helbach, Neutral

Nate Helbach is managing partner and CEO at Neutral, leading financing, product development, and construction of the company’s low-, mid- and high-rise developments. Nate developed a thesis to redefine conventional development strategies and mitigate the harmful effects of the built environment in our ecosystem while studying finance and sustainability in college. Nate founded Neutral based on this thesis in 2020 and continuously seeks to evolve and innovate new sustainable development methods to rejuvenate our built environment. Nate’s experience working for a Midwest developer, who managed 2,000 units and developed an average of 400 units per year, allows him to apply his expertise in financial modeling, capital raising, investor relations, deal structuring, Midwest market analysis, insurance management, development project management and innovative building design to Neutral’s continued success.

Multifamily housing resources

For articles, webinars and additional resources for developers, housing authorities, property managers, state housing credit agencies and lenders, visit Baker Tilly’s multifamily housing page.

KeyBank and the KeyBank Foundation announced an investment of $300,000 in Cincinnati’s Minority Business Accelerator (Accelerator), an affiliate of the Cincinnati USA Regional Chamber, to grow, scale and create jobs and economic vibrancy. The goal is to identify and provide intensive and customized services to a minimum of 25 high-potential minority-owned businesses for the duration of the three-year grant, for a total of 75 high-potential businesses.

Through a combination of the Accelerator’s full-time staff and a pool of consultants and subject matter experts, the Accelerator will serve as a “one stop shop” to provide a comprehensive set of support resources to the emerging minority business enterprises (MBEs).

Support of the MBEs include:

Strategy and growth plan developmentPreparation for and access to capital, including debt, equity, and alternative financing solutions stemming from comprehensive financial assessments and the accompanying detailed projectionsOperations and management technical assistancePreparation for and access to new client opportunitiesMarketing support

“KeyBank is deeply committed to providing support to local organizations and programs that are focused on empowering individuals for long-term success,” stated Jennifer Damiano, KeyBank Cincinnati Market President. “Over the course of two decades, the Accelerator has played a pivotal role in establishing a robust support ecosystem for local minority-owned businesses. This has not only led to the creation of numerous job opportunities, but also to increased investment prospects and a more vibrant local economy. We truly appreciate the invaluable contributions of the Accelerator and eagerly anticipate the ongoing success and impact of this organization.”

“We are super-excited to build on our existing partnership with KeyBank as this additional support will enable us to strengthen our pipeline building activities in identifying emerging and high-potential minority-owned businesses,” said Darrin Redus, CEO of the Accelerator. “We further look forward to partnering across the various business lines of KeyBank as this is truly a collaborative and intentional effort to strengthen economic and business opportunities for underserved segments of our population”.

The Accelerator, founded 20 years ago, is a nationally recognized best-practice initiative for developing larger-scale, job-creating MBEs. Since launching, the organization has maintained a specific and dedicated focus on preparing African American and Hispanic owned businesses to grow the types of scalable and competitive enterprises that deliver jobs, wealth and economic impact for communities of color and the broader region as a whole.

The organization has an impressive track record of success in optimizing the growth of minority-owned firms. MBEs working with the Accelerator have achieved approximately $2 billion in aggregate annual revenues, created over 3,500 sustainable jobs and have averaged double-digit annual growth since the program debuted.

ABOUT KEYCORP 
KeyCorp’s roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $187 billion at June 30, 2024.

Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,200 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC.

ABOUT CINCINNATI MINORITY BUSINESS ACCELERATOR 
The Minority Business Accelerator is the flagship economic development initiative of the Cincinnati USA Regional Chamber. Our mission is to increase economic inclusion and empowerment in the Cincinnati region by providing customized analysis, resources, and funding to accelerate the growth of scalable minority-owned businesses. Our focus is on serving scalable, underserved African American and Hispanic-owned businesses in partnership with targeted regional and national stakeholders aligned around the shared mission of accelerating high growth minority business development. Our core values are rooted in Trust, Inclusion & Excellence which represent the values that TIE us together.

Griffith Foods APAC is the first region to have achieved ISO 14001 certification across all sites for their Environmental Management System (EMS), marking a significant milestone in our global sustainability efforts. This certification provides a robust framework for managing and reducing greenhouse gas emissions, helping us meet environmental obligations, improve performance, and enhance resource efficiency. By achieving ISO 14001, our five APAC sites demonstrate a strong commitment to environmental responsibility and operational sustainability.

Globally, 10 of our sites are certified, with 2 more on track for certification by the end of FY24. In addition to ISO 14001, all APAC sites have also achieved ISO 45001 certification for Occupational Health and Safety Management Systems, highlighting our dedication to employee safety and wellbeing.

These accomplishments underscore our goal towards net-zero, reinforcing our dedication to minimizing environmental impact and maintaining the highest safety standards across all operations.

Our Sustainability Journey 
At Griffith Foods, we are committed to driving positive impact through a regenerative mindset. Sustainability is connected to everything we do as a business, and by 2030, we are dedicated to significantly improving the future with a singular sustainable business strategy that we call our 2030 Aspirations. To learn more about Griffith Foods and its current sustainability efforts, visit them online and download the 2023 Sustainability Report.

About Griffith Foods 
At Griffith Foods, our purpose defines who we are, what we do, and why we exist, highlighting what makes us distinct and authentic in the marketplace. We help our partners meet the evolving needs and desires of consumers in ways that respect and sustain the planet. Our care and creativity mean we’ll find the right mix of global reach and local impact to serve the earth and nourish all of us who call it home.

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LITTLE ROCK, Ark., October 1, 2024 /3BL/ – This summer, Entergy Arkansas provided nearly $380,000 through our “Beat the Heat” efforts, helping our low-income customers and communities stay cool and pay their bills throughout the summer. Through Entergy Arkansas’ “Beat the Heat” program, customers received bill payment assistance, fans, energy efficiency kits, home weatherization and invaluable support from local community partners. 

“We are committed to helping our customers manage their energy costs during times of high usage by providing bill payment assistance, energy efficiency products and services and other resources,” said Ventrell Thompson, vice president of customer service for Entergy Arkansas. “We understand the financial challenges many of our customers face, and we are here to support them.”

For decades, Entergy Arkansas has partnered with local organizations to ease the burden of hot summer temperatures resulting in increased usage and higher energy costs for our most vulnerable customers. Year after year, this collaborative program provides our customers with energy bill assistance, tools and resources, and support during the critical summer months. Through this program the company:

Donated more than $300,000 in funds from Entergy shareholders, employees and customers to The Power to Care program, which provides energy bill assistance to older adults and customers with disabilities.Provided customers with free access to Single Stop, an online resource that connects households in need with financial assistance and more.Awarded more than $12,000 in grants to vulnerable customers to provide free resources like electric fans and home weatherization kits.Donated to local organizations that weatherized homes for customers in need.Held in-person customer service events in underserved communities, providing customers with assistance and resources to help manage their bills, energy efficiency kits, pro bono legal aid, Kids to College savings accounts and more.Provided more than 600 free electric fans to help customers beat high temperatures and save on electricity bills throughout the summer.Distributed 70 energy efficiency kits to customers. The kits included money-saving LED lightbulbs, advanced power strips, bathroom faucet aerators and V-seal weatherstripping.

Entergy Arkansas is dedicated to ensuring all customers have access to the resources and support they need to stay safe and comfortable year-round. To learn more about our customer assistance programs, visit billtoolkit.entergy.com.

About Entergy Arkansas 
Entergy Arkansas, LLC provides electricity to approximately 730,000 customers in 63 counties. Entergy Arkansas is a subsidiary of Entergy Corporation, a Fortune 500 electric company. Entergy powers life for 3 million customers through our operating companies in Arkansas, Louisiana, Mississippi and Texas. We’re investing in the reliability and resilience of the energy system while helping our region transition to cleaner, more efficient energy solutions. With roots in our communities for more than 100 years, Entergy is a nationally recognized leader in sustainability and corporate citizenship. Since 2018, we have delivered more than $100 million in economic benefits each year to local communities through philanthropy, volunteerism and advocacy. Entergy is headquartered in New Orleans, Louisiana, and has approximately 12,000 employees. For the latest news from Entergy Arkansas, visit the Newsroom and connect with @EntergyArk on social media.

WILDLIGHT, Fla., October 1, 2024 /3BL/ – Rayonier today announced the launch of ForestryCareers.com, a new website designed to educate students and career seekers about the diverse and rewarding opportunities available in the forestry industry.

ForestryCareers.com provides a wealth of educational resources specifically tailored to the forestry sector. Educators, guidance counselors and parents can utilize the site’s interactive lessons, informative videos and a career resources guide to introduce students to the diverse career paths available in the industry. The website offers a comprehensive exploration of forestry careers, featuring detailed profiles and salary information for a variety of roles. Students can discover the many ways they can contribute to the industry, from sustainable forest management to innovative wood product development.

“We’re excited to launch this new website and help more people discover the fulfilling careers available in forestry,” said Tiffany Wilson, director of strategic communications at Rayonier. “The forestry industry plays a vital role in our economy and environment, and we need talented individuals to join our ranks and help us manage forests sustainably for generations to come.”

ForestryCareers.com is a valuable resource for:

Students exploring career optionsParents and guidance counselors looking for information about forestry careersTeachers seeking educational materials about forestryForestry professionals interested in connecting with the next generation

The website is part of Rayonier’s broader commitment to promoting forestry education and career development. The company also partners with schools and universities to offer internships, scholarships, and other programs that support students interested in forestry.

About Rayonier

Rayonier (NYSE:RYN) is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand. We own or lease under long-term agreements approximately 2.7 million acres of timberlands. We are More than trees because we recognize that our 90+ years of success in the timberland industry comes from our people, an empowering culture and the courage to constantly challenge “the way it’s always been done.” Get to know us at www.rayonier.com.

Contact: Alejandro Barbero, (904) 553-4914 alejandro.barbero@rayonier.com

In the rapidly evolving world of artificial intelligence (AI), diversity is not just a value—it’s an imperative. International Women in AI Day, celebrated on October 1, shines a spotlight on the contributions and challenges faced by women in this expanding field. This day aims to recognize and amplify the voices of women in AI while encouraging women to pursue more opportunities in the area.

Understanding International Women in AI Day

International Women in AI Day was established by Cadence to foster gender diversity in AI. This annual event focuses on celebrating successes, highlighting challenges, and advocating for more inclusive opportunities. The goal is to create more pathways for women to enter and excel in AI, ultimately enriching the field with diverse perspectives and talents.

Why This Day Matters for Women and the Tech Industry

The importance of International Women in AI Day extends beyond recognition. For women, it’s a call to action to seize opportunities and make their mark in AI. For the tech industry, it’s a reminder of the innovation lost without gender diversity. Currently, less than 20% of AI professionals are women, underscoring a significant gap that needs addressing.

By celebrating this day, we can inspire women and girls to pursue careers in AI, providing them with role models and networks that can support their aspirations. At the same time, organizations can reflect on their practices, ensuring they’re doing enough to foster a culture of inclusion and equality.

The Role of Fem.AI in Gender Equity

Fem.AI, a dynamic initiative launched by Cadence, is at the forefront of driving gender equity in the tech sector. With a $20 million commitment, Fem.AI aims to close the gender gap in AI through strategic partnerships, funding for nonprofits, and support for women-led ventures.

Fem.AI focuses on key leakage points where women often lose traction in tech careers. Their efforts extend from supporting women in completing STEM education to assisting with job placement and retention in tech roles. By addressing these challenges, Fem.AI is paving the way for a more balanced and diverse AI workforce.

How to Get Involved

Engagement in International Women in AI Day can take many forms. Whether you’re an individual or an organization, there are numerous ways to participate:

Raise Awareness – Share stories of women who have contributed significantly to AI. Highlight the importance of diversity in tech.Encourage Participation – Mentor women and girls interested in AI. Develop outreach programs that showcase the potential of AI careers.Support Career Growth – Provide networking opportunities and resources to help women advance in their careers. Ensure systems are in place to support women at each stage of their professional journeys.Partnerships – Collaborate with nonprofit organizations, companies, and institutions to drive systemic change. By partnering with other organizations and building coalitions, you can deepen the collective impact and create a more equitable tech industry.

Celebrating Achievements and Looking Ahead

Today, industry, academia, nonprofit, and gender equity leaders are convening for the inaugural Fem.AI Summit. This summit will serve as a catalyst for cross-sector collaboration, driving innovative solutions for gender equity in AI.

International Women in AI Day is more than just a celebration; it’s an opportunity to reflect on the progress made and the work to be done. By coming together, we can build a future where women have equal opportunities to contribute and succeed in AI, driving the field forward with innovative ideas and diverse perspectives.

Take the Next Step

For those looking to deepen their involvement, consider joining the Fem.AI Alliance. This platform provides opportunities for mentorship, learning, and collaboration, ensuring women have the support needed to thrive in tech.

International Women in AI Day reminds us of the potential that lies in diversity. Together, let’s champion change and create a tech industry where everyone, regardless of gender, can flourish.

Visit Fem.AI to learn more about how you can make a difference.