Can companies use artificial intelligence to attain the Double Bottom Line (simultaneous pursuit of financial performance and social impact) by enhancing equity? Drawing on equity theory, we develop a conceptual model whereby perceived AI quality positively affects firm performance that is mediated by equity in the educational technology sector. Using observational data collected from a global AI-powered learning app, we find support for educational equity as a full mediator between perceived AI quality and firm performance. Moreover, we also find support for conditional indirect effects. The mediating role of educational equity is moderated by political, economic, socio-cultural, and technological factors. Our research contributes to the growing popularity of transforming a business model from a bottom line to a double bottom line approach. We discuss how our study extends the IS literature on the integration between artificial intelligence and equity and the managerial implications for an inclusive information system.