Innovations in spatial computing and artificial intelligence (AI) are making it possible to overlay dynamic, interactive digital elements on the physical world. Soon, every object might have a real-time digital twin, enabling the “Internet of Things” so as to identify and interact with even unconnected items. This programmable reality would enable computational manipulation of the world around us through alteration of its appearance or functionality, similar to software, but for reality itself. Augmented reality (AR) provides the ideal bridge between AI output and human input in the physical world. As AR devices become ubiquitous and indistinguishable from reality, these technologies blur the lines between reality and simulations. This raises profound questions about how we perceive and experience the world while having implications for memory, learning, and even behavior. Programmable reality enabled by AR and AI has vast potential to reshape our relationships with the digital realm, ultimately making it an extension of the physical realm.