How the United States Is Modernizing Investment Security for the AI Era
As artificial intelligence, critical infrastructure and advanced manufacturing reshape the global economy, the United States is rethinking how it reviews foreign investment—not to slow capital, but to strengthen long-term economic competitiveness.
On July 16, 2026, Meridian International Center convened a Global Business Briefing featuring The Honorable Chris Pilkerton, Assistant Secretary of Investment Security at the U.S. Department of the Treasury, alongside Heather Kulp, Vice President of Government Affairs at Chevron, and Will Kinzel, Global Head of Government Affairs at Carlyle. Moderated by Meridian CEO David Bohigian, the discussion explored how the Committee on Foreign Investment in the United States (CFIUS) is evolving to address emerging technologies, strengthen supply chains and preserve America's position as the world's leading destination for investment.
1. Investment security has become a competitive advantage.
Global capital now flows toward markets that offer both opportunity and certainty. A transparent, risk-based investment review process reduces long-term uncertainty for investors while protecting technologies, infrastructure, and data that underpin national competitiveness. Rather than standing in opposition, investment security and economic growth reinforce one another as governments compete for trusted capital.
2. The future of CFIUS reviews begins before transactions are filed.
As transactions become more technologically complex, CFIUS is placing greater emphasis on early engagement between investors and government. Pre-filing consultations and greater transparency around potential national security risks can help companies incorporate mitigation measures into transactions before they are finalized, reducing uncertainty and improving the efficiency of the review process. By addressing potential concerns earlier, CFIUS can focus reviews on the unique national security considerations of each transaction while providing greater predictability for responsible investors.
3. Supply chain resilience is built one vulnerability at a time.
The greatest supply chain risks are often hidden several tiers below the largest manufacturers and investors. Strengthening resilience requires identifying those specific chokepoints—whether a single component, supplier or manufacturing capability—and helping trusted domestic companies scale to meet demand. Public-private collaboration can accelerate that process by connecting investors, manufacturers and small businesses to strengthen strategically important industries before disruptions occur.
4. Artificial intelligence is changing what investment security means.
Artificial intelligence is no longer a standalone technology sector. It increasingly shapes advances in biotechnology, quantum computing, energy, advanced manufacturing and defense systems, requiring governments to evaluate how technologies may evolve long after an investment is approved. Investment screening is shifting from assessing today's capabilities to anticipating tomorrow's commercial applications, dual-use risks and strategic implications by drawing on expertise from government, academia and industry.
5. America's investment security increasingly depends on its partners.
Investment security does not end at U.S. borders. Capital, technology and ownership structures move across multiple jurisdictions before reaching the United States, creating potential vulnerabilities when partner countries lack robust investment screening regimes. As more governments establish or strengthen investment review frameworks, greater international coordination can help reduce shared risks while preserving the open investment environment that drives innovation and economic growth. Strengthening investment security abroad is becoming a critical component of protecting investment security at home.
Project summary
| How the United States Is Modernizing Investment Security for the AI Era | July 2026 | |
|---|---|
| Program Areas: | Corporate Diplomacy |
