Electromagnetism could theoretically be used to deviate the path of an incoming bullet, although practical applications are limited. The interaction between the bullet's and a steel plate's electromagnetic fields could cause deflection, but significant deviation is unlikely. Alternative methods discussed include using UV or IR radiation to charge the bullet or even melt it before impact. The conversation also humorously compares this concept to using complex technology for simple tasks, suggesting the idea may be impractical. Overall, while the theory exists, real-world implementation poses significant challenges.