Generative AI has the potential to either widen or remove barriers to the racial economic gap in the United States. It could increase the racial wealth gap, as Black Americans currently only capture about 38 cents of every dollar of new household wealth. Black workers are also overrepresented in jobs at risk of automation, which could impact their upward mobility. However, developing nonautomatable skills and focusing on the eight pillars of Black economic mobility can help mitigate these negative effects. On the other hand, gen AI has the potential to address inequitable access to healthcare and improve outcomes for Black communities. For example, AI can be used to identify risk factors earlier in pregnancies, potentially helping thousands of Black babies be born at term. AI can also enhance access to banking services for Black Americans through targeted marketing, personalized financial plans, and compliance monitoring. It is crucial for leaders to apply gen AI with an equity lens and ensure responsible and inclusive use. [Extracted from the article]