Is there software that automates pay equity analysis and identifies disparities?

Yes, but the automation stops at different points. Every tool checked computes a gap once pay data is loaded; only a few keep watching. HiBob's AI pay equity analyser flags gaps by role, level, gender and location and alerts on out-of-band proposals during comp reviews, OpenComp tracks how merit and bonus cycles move the numbers, and Syndio's Decisions product checks offers and promotions as they happen. The part that cannot be fully automated is deciding whether a disparity is unexplained: that depends on the statistical model, and only six of fifteen vendors say what model they use. Ask for the model before trusting the alert.