Purpose of Review <p>As artificial intelligence (AI) rapidly advances, its potential to enhance or complicate healthcare is increasingly evident. This review explores how AI is reshaping geriatric psychiatry—a field that uniquely reflects both the promise and challenges of these technologies, given the complex needs of older adults. Here, we examine AI integration in this domain through three lenses: Opportunity, Equity, and Liability, with an emphasis on ethical, deliberate, and clinically grounded approaches.</p> Recent Findings <p>AI presents significant opportunities for improving geriatric mental health care, from enhancing clinical decision-making to streamlining research. However, its integration exposes inequities in digital access and literacy, particularly among marginalized older adults. These challenges, along with new ethical, legal, and practical concerns, highlight the need for thoughtful, equitable implementation to ensure AI supports, rather than hinders, person-centered care.</p> Summary <p>AI holds the potential to enhance geriatric mental health care by improving efficiency, personalization, and responsiveness. Achieving this requires collaboration among clinicians, data scientists, and regulators to integrate AI thoughtfully into clinical workflows, with ongoing evaluation to ensure tools are accurate, ethical, and beneficial. Given the growing demand for care and the increasing complexity of aging, geriatric psychiatry is poised to lead in the responsible application of AI in medicine.</p>