Lua is a popular programming language for AI in game development, with several advantages. It is easy to learn and use, with a simple syntax and semantics. It is fast and efficient, with a high-performance interpreter and powerful garbage collector. It is also flexible and extensible, with a dynamic type system and metaprogramming mechanism that allows for customization. Lua is portable and cross-platform, running on almost any device and operating system. However, there are some drawbacks to Lua. It is not a fully featured language, lacking some built-in features and data structures such as classes, inheritance, arrays, sets, maps, etc. It is also not a strongly typed language, leading to potential runtime errors if not careful with code. Additionally, Lua requires an interpreter and binding layer to communicate with your game engine and platform which can introduce overhead and complexity. Finally, there are several versions of Lua that are not fully compatible with each other such as Lua 5.1, Lua 5.2, Lua 5.3, LuaJIT, etc.