Meaning ● Diversity and financial performance, within the context of Small and Medium-sized Businesses (SMBs), represents the correlation between a diverse workforce – inclusive of characteristics such as gender, ethnicity, age, and background – and improved financial outcomes. Achieving growth in SMB is rooted in its connection to enhanced innovation, greater market understanding, and better decision-making driven by varied perspectives. ● Implementing automation within a business can offer insights from diverse teams helping mitigate biases in algorithm design, ensuring the technology is both effective and inclusive. Automation powered by diverse teams minimizes risks of discriminatory AI outputs.
