In AI, Diversity Is A Business Imperative

Organizations today recognize the critical importance of diversity. They address it by changing internal practices and establishing chief diversity officers to enable equal opportunities and to strive for greater inclusion so that teams with a wealth of cultures, beliefs, experiences and skills can make their companies even stronger. The realization that diverse teams achieve better outcomes than homogenous ones was further reinforced by a McKinsey study that found that the most ethnically and racially diverse companies had a better chance of outperforming their peers. Those companies had a 33% great probability of achieving above-average returns. Whether it's pricing stocks or determining guilt or innocence in a trial, a diverse group is more likely to examine the facts and be objective and accurate.