Intel to Sign Tech Inclusion Pledge, Discuss Report on Diversity’s Economic Impact at Global Entrepreneurship Summit
U.S. Chief Technology Officer Megan Smith and Silicon Valley companies will participate in a June 23 roundtable event held in conjunction with the Global Entrepreneurship Summit. The roundtable event will provide a forum for technology companies to discuss efforts to advance inclusive entrepreneurship and tech diversity in the United States as well as a report conducted by Intel and Dalberg Global Development Advisors on the business case for workforce diversity.WHAT: Barbara Whye, deputy director, Diversity in Technology Initiative, Intel Corporation, will reveal findings from the report, “Decoding Diversity: The Financial and Economic Returns to Diversity in Tech,” that provides the first-of-its-kind analysis1 quantifying the economic impact of improving diversity in the tech sector.
The report looks at data from 167 U.S. technology companies and concludes that increased representation of African-American, Hispanic and female employees has significant economic implications, including productivity, growth and revenue gains in the technology sector. The full report can be read at www.intel.com/diversity.
Key highlights2 from the report include:
- An additional \\$470 billion to \\$570 billion in new value for the U.S. technology industry could be generated through full representation of ethnic and gender diversity.
- Every incremental percentage point in African-American and Hispanic representation at NASDAQ-listed tech companies can represent a 3 percent increase in revenues and a potential \\$300 billion to \\$370 billion annual increase in revenue for the technology sector.
- A global productivity boost of \\$430 billion to \\$530 billion could be generated through closing the global tech industry’s female leadership gap.