The Role of AI to Enhance Retirement Savings: The Gender Gap Challenge
By Anabel Martínez Colín
AI is the biggest disruptor in the financial sector, where there are many AI solutions at work, and the role of AI over it is well documented. However, the deployment of AI in the pension segment is still at an exploratory stage, and its influence on the gender gap in pensions is still unclear. This research explores the relationship between AI readiness and the gender gap in
pensions (GGP), which may also be statistically significant. In addition, this research examined the relationship between AI and some of the main factors that could influence the GGP to
provide meaningful data on how AI can affect them. This research involves a review of the literature regarding GGP, AI readiness, and potential AI solutions that the pension sector can
adopt to improve women’s retirement savings. The analysis includes descriptive data, Spearman’s correlation test, and multiple linear regression. Subsequently, the discussion focused on the role of AI on the GGP, the labour force gender gap, the income gender gap, and education. One limitation of the study was that the data on the GGP, only a few countries have standardized data. Nevertheless, this research also found a statistical equation that can predict more than 50% of the variation of the GGP value using only four predictors.
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