In June 2024, investor and philanthropist Robert F. Smith attended the Aspen Ideas Festival in Aspen, Colorado. Organized by The Aspen Institute, the festival brings together diverse thought leaders to develop innovative solutions to society’s problems.
Smith shared some of his own solutions during an interview with Antonia Hylton of NBC News. The interview focused on topics like broadband, internships, AI and digital equity in tech. Most notably, he discussed creating opportunities for STEM students and others from communities that have traditionally lacked access to resources, while ensuring they benefit from the digital revolution. Ahead, we discuss the interview and some of Smith’s solutions.
Watch the full video on YouTube:
Highlights of the Aspen Ideas Festival Interview
Smith began with his own personal story, sharing that previous generations of his family came to Colorado from Oklahoma, creating a community that learned to rely on itself, share resources and utilize individual capabilities to make life better for everyone.
AI, Broadband and Student Freedom Initiative
Smith went on to discuss how many communities lack broadband access and exposure to AI learning. Smith shared how his experience as an intern at Bell Labs opened his eyes to what technology and access really meant. He noted that the lack of access to broadband creates a barrier for these communities to develop AI skills. He also discussed digital equity, while addressing the fears about AI and the workforce.
Generative AI and other advances in technology have transformed all levels of society. However, there is still work to be done to ensure that AI platforms and the tech workforce are more representative of people from diverse backgrounds and that everyone has exposure to broadband. This is one of the many reasons Smith supports organizations like Student Freedom Initiative (SFI).
SFI works to create access to affordable education for students of Historically Black Colleges and Universities (HBCUs), other Minority Serving Institutions (MSIs) and Tribal Colleges and Universities (TCUs). Beyond providing financial resources to help train the next generation of STEM students, SFI is improving access to broadband for these educational institutions. According to a 2021 McKinsey Report, 82% of HBCUs are located in broadband deserts. To help increase access to the digital economy for HBCU, MSI and TCU students, as well as others in their communities, SFI is focusing on the primary drivers of what has become known as the digital divide:
- Infrastructure
- Device access
- Affordability
- Digital literacy
Internships and internXL
Bridging the digital divide and expanding broadband access are important first steps in promoting digital inclusion in tech, but more work needs to be done to create onramps of opportunity for Black STEM students. As Smith noted in the interview, internships are one solution.
Organizations like internXL connect a diverse pool of STEM students with paid internship opportunities from leading companies. Thanks to these internship experiences, these students become more competitive applicants in the labor market and see their earnings potential drastically increase. The program also helps employers involved with internXL tap into a pre-qualified and expanded pool of candidates matched by skill requirements.
An Aperture of Opportunity
The important work of organizations like SFI and internXL creates an aperture of opportunity for Black and other often underrepresented STEM students. Toward the end of the interview, Hylton asked Smith for his call to action to address these system issues. He responded:
“One of the most important things is the inclusion of our society into this transformational moment at all levels, from internships to training to developing to making sure that those who are generating and building these models are establishing inclusionary constructs that aren’t episodic. It is also important that the government and regulatory environment continue to get informed, not just about how the tools work, but their impact, both positive and negative.”
These combined efforts will promote racial equity in STEM programs and result in a more inclusive tech industry in the future.
Follow Smith on LinkedIn to learn more about the power of internships and his work to create equity in tech.
