Women in Tech & Finance at Greater Risk Due to AI & Automation

• Women in the technology and finance sectors are more likely to lose their jobs to AI and automation than men
• Experienced women are being passed over because of inflexible recruitment procedures

A report has revealed that women in the tech and financial sectors are more likely to lose their employment opportunities due to the growing application of AI and automation than men.

The report also emphasizes that experienced women are being pushed aside by "rigid recruitment procedures."

As per the findings of the City of London Corporation, "mid-career" women (with at least five years of experience) are being passed over for digital jobs in the tech, financial, and professional services sectors, where women are already underrepresented.

The report states that women are discriminated against in the hiring process because of automated recruitment software that fails to factor in career breaks for child-rearing responsibilities or take a broader view of their work experience.

To tackle these problems, the City of London Corporation recommends that employers concentrate on reskilling women who are not already employed in technical occupations, especially those in clerical work who are at a high risk of being made redundant by automation.

It is predicted that 119,000 clerical jobs, mostly occupied by women in the tech and finance industries, are set to be made redundant by automation in the next decade.

Reskilling these employees could enable companies to sidestep paying redundancy payments of up to £757 million, according to the report.

The report recommends that upskilling employees would enable employers to place greater emphasis on the potential of candidates rather than their existing technical skills.

It is also noted that between 50,000 and 60,000 women leave their jobs in the tech industry every year because of reasons such as a lack of career development, recognition, and reward.

Dame Susan Langley, Mayor of the City of London, stated that it is crucial to invest in digital skills in the workforce and that by concentrating on talent, adaptability, and opportunity, the UK can retain its position at the forefront of innovation and digital excellence.

However, recent surveys have revealed that as much as a quarter of the UK workforce is worried about being replaced by AI in the next five years. Union leaders have demanded more investment in the skills of the workforce.

The City of London Corporation also pointed out that women were being passed over for the job despite the fact that more than 12,000 digital jobs were left unfilled in these industries in 2024.

Although some firms have tried to fill the labor gap by offering higher salaries, the report warns that simply paying more will not solve the problem. It predicts that the digital skills gap will continue until at least 2035, which could cost the UK more than £10 billion in lost economic growth.