Artificial intelligence (AI) offers promising solutions for many steps of the cardiac imaging workflow, from patient and test selection through image acquisition, reconstruction, and interpretation, extending to prognostication and reporting. Despite the development of many cardiac imaging AI algorithms, AI tools are at various stages of development and face challenges for clinical implementation. This scientific statement, endorsed by several societies in the field, provides an overview of the current landscape and challenges of AI applications in cardiac CT and MRI. Each section is organized into questions and statements that address key steps of the cardiac imaging workflow, including ethical, legal, and environmental sustainability considerations. A technology readiness level range of 1 to 9 summarizes the maturity level of AI tools and reflects the progression from preliminary research to clinical implementation. This document aims to bridge the gap between burgeoning research developments and limited clinical applications of AI tools in cardiac CT and MRI.