As the Workplace Gender Equality Agency prepares to release the latest gender pay gap data from Australia’s largest companies, Knight Frank Australia has been collaborating with the Sydney-based startup EvenBetter.ai to explore how artificial intelligence can uncover and address the underlying factors contributing to pay gaps.

Set to launch in the coming weeks, the platform will provide businesses with valuable insights and actionable strategies to promote workplace equity.

Chief People Officer, Kristin Hay explains: "Our partnership began last year when one of the founding partners at EvenBetter.ai approached us with an innovative tool that leverages artificial intelligence to help organisations understand and analyse their gender pay data.

As a strategic design partner, Knight Frank Australia are among the first companies globally to use their AI-driven platform to identify, analyse, and tackle the challenges related to diversity and the gender pay gap. The AI-driven tool processes anonymised raw data, breaks it down, and offers insightful recommendations.

Head of Reward and Performance, Martina Foehr, has collaborated closely with the EvenBetter.ai team to refine the tool’s capabilities. The tool helps interpret the data in a meaningful way, ultimately enabling organisations to make informed decisions that close the gender pay gap.

“Previously, our People & Culture team manually dissected the data, a labour-intensive process,” added Kristin.

“The EvenBetter.ai tool simplifies this by automating the analysis, allowing us to understand the reasons behind the gender pay gaps within our workforce. It provides actionable insights related to the labour market, the diversity of internal teams, the composition of senior leadership, and areas for potential pay equity. 

“Throughout our rewarding and fascinating journey with EvenBetter.ai, we’ve observed the tool’s development from its early stages to a sophisticated solution that promises to make a significant impact. We’re incredibly proud to have been part of this process, knowing that we’re contributing to a tool that will hopefully help many organisations make better decisions and promote gender equality in the workplace."