Exclusive: AI's revolution comes with risks, Sen. McCormick says

What he's saying: McCormick argued Americans have more money in their pockets under President Trump, but he acknowledged that consumers don't feel that because housing, energy and health care costs are on the rise.

• "Energy demand is going to triple in the next 15 years," McCormick said, and Congress needs to ensure those costs don't trickle down to Americans.
• McCormick introduced a bill with Sen. Christopher Coons (D-Del.) to foster liquid cooling technology to boost data centers while keeping utility bills down.

Driving the news: McCormick, a former CEO of hedge fund Bridgewater Associates, has championed AI in the Senate, last year announcing $70 billion in AI and energy investments for Pennsylvania.

• He has warned the U.S. can't afford to lose an AI race with China.

• "We have to lead the innovation because the consequences of China being the leader in AI could reshape the world," McCormick told Allen.
• McCormick's wife, Dina Powell McCormick, is president of Meta, one of the companies with the most at stake in the AI policy fights McCormick is helping shape.

Yes, but: McCormick has also cautioned that AI can be disruptive to society, driving up energy costs, eliminating jobs and presenting new ethical challenges.

• However, he has said it's too soon to regulate the rapidly evolving technology.