I’ve been a technology investor, founder, organizer, strategist and academic for the past 25 years. I’m proud to be part of a growing group of diverse leaders who are shaping a system of innovation that represents and benefits us all. But in recent months, I’ve become increasingly concerned about the absence of Latinx/e founders and leaders from today’s crucial conversations about the development and regulation of artificial intelligence.
As the use of artificial intelligence continues to increase in our lives, so does the number of diverse founders leveraging it to develop positive, socially impactful services and products. Because their unique life experiences lend these founders ingenuity, their startups often address critical social needs. When diverse founders succeed, society benefits.
Yet their voices and perspectives remain largely absent from the policy discussions and decisions that will shape the future of artificial intelligence and its impact on our society.
Unfortunately, this exclusion is part of a broader pattern in the startup and venture capital ecosystem. The Latino/a population in the United States accounts for more than 20% of the total U.S. population; in the past 10 years, they have founded half of new businesses (19% of which are technology-related) and contribute $3.2 trillion to the national economy annually. As a group, they represent the world’s fifth-largest economy.
As the use of artificial intelligence continues to increase in our lives, so does the number of diverse founders leveraging it to develop positive, socially impactful services and products.
Yet, despite their entrepreneurial talent and determination, Latinx/e founders remain overlooked and undervalued, receiving less than 2% of venture capital funding. Even if they receive bonuses, they are typically only a fraction of those awarded to their non-Hispanic counterparts.
Although historically undervalued, Latino/a Americans are persevering and poised to become a vital force in America’s future. Latino/a college enrollment has more than doubled since 2000, with enrollment in science and engineering programs increasing 65 percent in the past 10 years.
Former Cisco CIO Guillermo Diaz Jr. calls today’s intersection of artificial intelligence and technology and the surge in Latino/a education, economic power, and employment a “lightspeed moment,” noting that Latino The enhancement of the leading position of Asian/electronic technology means long-distance development.America is more prosperous
I understand and share some of the common concerns when it comes to AI regulation, and appreciate the recent calls for rapid regulation. But I don’t understand how Latinx/cyborgs and diverse groups are being excluded from regulatory conversations.
Last year, the Biden administration discussed artificial intelligence regulations with leaders from Open AI, Google, Amazon, Meta, Microsoft and others, as well as a number of academics and advocates. But this group is too narrow. Underrepresented communities and our allies often have nuanced views on artificial intelligence.
On the one hand, we have reason to worry that AI technology may perpetuate prejudice and discrimination. On the other hand, we are eager to ensure that diverse communities, founders, consumers, and all Americans can benefit from the many positive potential implementations of artificial intelligence. Regulations developed without a broad, nuanced perspective could undermine the benefits of AI to different communities, leading to worse social and economic consequences for everyone.
Discussions about the development and regulation of artificial intelligence are fundamentally discussions about the future of society, and different groups will play key roles in that future. Before regulators finalize any major policy changes, diverse, visionary startup founders and leaders should be involved in discussions about how to simultaneously develop an appropriate regulatory framework for AI technologies while creating conditions that encourage diverse founders to have a voice rights and play a meaningful role. The evolution of artificial intelligence.
In addition to establishing thoughtful guardrails, policymakers should consider incentives such as tax credits, STEM education grants, and training and hiring programs to create pathways for diverse groups to increase representation, contribution, and success in the growing field of artificial intelligence .
As with any transformative technology, advanced artificial intelligence carries risks and incredible positive potential for all. That means lawmakers need input from all of us on AI-related policies. They must include a diverse group of startup founders and leaders as they consider the AI incentives and regulations that will shape our collective future.
