The Army began the Interim Armored Vehicle (IAV) program to implement Shinseki's concept. In 1999, Army Chief of Staff Eric Shinseki laid out his vision for a lighter, more transportable force. The last Sheridans in service were vismod Sheridans used for opposing force training. The 3/73rd Armor was inactivated over the following two years. The Army canceled the AGS in 1996, citing an unfavorable outyear funding environment. The AGS was expected to replace the Sheridan in the 3/ 73rd Armor of the 82nd Airborne Division and TOW missile-armed Humvees in the 2nd Armored Cavalry Regiment. After a series of false starts, in June 1992 the Army selected FMC's Armored Gun System (AGS) to go into low-rate initial production. Some of its efforts around this time could be described as hopelessly intermingled. The Army began a series of projects in the 1980s to either improve the Sheridan or replace it. A small number were retained in active service by the 82nd Airborne Division and the National Guard. The Army recognized the poor performance of the M551 Sheridan light tank in Vietnam and began the process of retiring the vehicle in 1977. The Army selected the General Dynamics Land Systems (GDLS) model later that year. BAE's submission was disqualified in 2022.

Both companies delivered prototypes of their vehicles in 2020. The Army narrowed the choices to the General Dynamics' Griffin II and BAE Systems' M8 AGS for further evaluation. A previous light tank development for the Army, the M8 Armored Gun System, was canceled in 1996. The program is part of the Next Generation Combat Vehicle program. This vehicle has been called a light tank by some sources, which is incorrect according to Army officials. Glenn Dean, program executive officer of Army Ground Combat Systems.,

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