The rationale for increasing diversity in science, technology, engineering, mathematics, and medicine (STEMM) has evolved over time, but the approaches to making these fields more inclusive have yet to achieve large-scale success for racially minoritized populations. Diverse perspectives are necessary to fuel the high-quality research and innovation required to address humanity's greatest challenges and shape our future in a positive way. This article discusses why institutional transformation is required to make STEMM fields inclusive given the disadvantages accumulated by minoritized populations over centuries of denial of opportunity.