Artificial intelligence (AI) is all around us, and is increasingly used in all aspects of our daily lives. This applies not only to adults but to children as well, with AI being used frequently both in the classroom and at home. With over 30 million children currently living in the United States, the possible impacts of AI use on young children are widespread and significant. However, researchers are only beginning to understand the potential positive and negative effects of AI use on our youngest learners. While many are optimistic about the educational potential of AI for young children, these aspirations are accompanied by concerns of the consequences of AI use during this crucial period of rapid development.