27 When considering financial innovation of any type, our task is to facilitate an environment in which socially beneficial, responsible innovation can progress with appropriate mitigation of risk and consistent with applicable statutes and regulations. As with other technological advances, AI presents regulators with a responsibility to act with thoughtfulness and perspective in carrying out their mandates, learning from the experience in other areas.
Between 2011 and 2015, the average proportion of adults in low- and moderate-income communities who had dropped out of high school was 23.5 percent, which is more than double the 10.9 percent rate in higher-income communities during that period. 7 When students from low- and moderate-income families do complete high school, they are less likely to pursue a college degree.