Tracy Daniels, Chief Data Officer at Truist, discusses the importance of diversity and inclusion in data teams. They explore the significance of representation, the negative consequences of not prioritizing diversity, and the value of feedback and creating a safe space for everyone to express their opinions. They also emphasize the role of executive buy-in, measuring the success of DEI programs, and recognizing and addressing the lack of diversity in organizations.
Read more
AI Summary
AI Chapters
Episode notes
auto_awesome
Podcast summary created with Snipd AI
Quick takeaways
Diversity, equity, and inclusion are crucial for building a comprehensive approach to better data culture.
Effective implementation of diversity and inclusion requires buy-in from executive leadership and collaboration across the organization.
Addressing bias in hiring and AI is essential for promoting diversity and inclusion.
Deep dives
The Importance of Diversity, Equity, and Inclusion
Diversity is about presence and representation, equity emphasizes fairness and justice, and inclusion creates an environment where people feel valued and heard. All three aspects are crucial for a comprehensive approach to building better data culture. Diversity and inclusion have a positive impact on organizations, leading to outperforming peers and better responses during challenges like COVID. On the flip side, neglecting diversity and inclusion can result in products and services that are not inclusive or missing valuable features, as well as losing out on diverse talent. Setting goals and measuring representation are essential in promoting diversity and inclusion, along with actively improving supplier diversity. Creating an intentional and inclusive environment benefits the organization, its employees, and the community.
Implementing Diversity and Inclusion
Effective implementation of diversity and inclusion requires buy-in from executive leadership and collaboration across the organization. At Truist, the DEI framework is set by the Chief Diversity Officer, while business resource groups contribute their expertise and tailor initiatives to their specific lines of business. Setting goals for increasing representation and diversity, both in employee demographics and supplier diversity, helps drive progress. Accountability is maintained through metrics, employee engagement surveys, and continuous feedback mechanisms. Collaboration and active participation from allies are also key to the success of diversity and inclusion programs.
Addressing Bias in Hiring and AI
Addressing bias in hiring and AI is crucial for promoting diversity and inclusion. Steps to mitigate bias include reviewing hiring practices, considering diverse schools and colleges for recruitment, using inclusive language in job descriptions, ensuring diverse interview panels, and expanding professional networks to broaden candidate pools. Increasing awareness of bias and providing frameworks and training to overcome biases are important steps. In AI, building diversity considerations into frameworks, training data, and design processes helps combat biased outcomes. Data literacy, ongoing learning, and challenging uncomfortable questions play a vital role in reducing biases.
Fostering Inclusive Environments and Culture
Creating inclusive environments and culture requires conscious effort and active participation from everyone. In meetings, ensuring diverse voices are heard, inviting quieter voices to contribute, and providing feedback mechanisms can enhance inclusivity. Slowing down and paying attention to natural inclinations helps overcome biases. Encouraging participation, valuing different perspectives, and actively including marginalized communities contribute to inclusive culture. Organizations can prioritize diversity and inclusion in team building and human resources processes, and align these initiatives with business goals. Celebrating diverse contributions and recognizing progress also reinforce inclusive environments.
Measuring Success and Continuous Improvement
Measuring the success of diversity and inclusion initiatives involves analyzing representation demographics, tracking progress towards goals, and assessing the impact on products, services, and experiences. Organizations can review metrics related to representation, engagement, programming successes, and unbiased decision-making in AI systems. Collaboration and debate around trade-offs and continual learning are essential for ongoing success. Organizations should be accountable, transparent, and take action based on feedback. Data-driven frameworks, collaboration, and a commitment to improvement help organizations stay on track and continuously evolve their diversity and inclusion efforts.
In data science, the push for unbiased machine learning models is evident. So much effort is made into ensuring the products we create are done thoughtfully and correctly, but are we investing the same effort in ensuring our teams, the very architects of these models, are diverse and inclusive? Bias in data can lead to skewed results, and similarly, a lack of diversity in teams can result in narrow perspectives. As we prioritize building diversity and inclusion into our data, it's equally crucial to embed these principles within our teams. So, who is best equipped to guide us in integrating DEI from a data perspective?
Tracy Daniels is the Chief Data Officer for Truist Financial Corporation. She leads the team responsible for Truist’s enterprise data capabilities, including strategy, governance, data platform delivery, client, master & reference data, and the centers of excellence for business intelligence visualization and artificial intelligence & machine learning. She is also
the executive sponsor for Truist’s Enterprise Technology & Operations Diversity Council. Daniels joined Truist in 2018. She has more than 25 years of banking and technology experience leading high performing technology portfolio, development, infrastructure and global operations organizations. Tracy enjoys participating in civic and philanthropic endeavors including serving on the Georgia State University Foundation Board of Trustees. She has been recognized as a National 2013 WOC STEM Rising Star award recipient, the 2017 Working Mother magazine Mother of the Year recipient, and a 2021 Women In Technology (WIT) Women of the Year in STEAM finalist.
In the episode Tracy and Richie discuss Truist's approach to Diversity, Equity, and Inclusion (DEI) and its alignment with the company's purpose and values, the distinction between diversity and inclusion, the positive outcomes of implementing DEI correctly, the importance of not missing opportunities both externally with customers and internally with talent, the significance of aligning diversity programs with business metrics and hiring to promote DEI, considerations for job advertisements that appeal to a diverse audience, and much more.