Canada Struggles to Commercialize AI Knowledge Despite Significant Investments
Canada boasts impressive research capabilities, generous federal funding, and a high quality of life. However, the country lags behind in transforming artificial intelligence knowledge into tangible products and investments, potentially hindering its progress in the global tech industry.
Despite launching national AI strategies and allocating billions of dollars to support research and commercialization, Canada struggles to retain ownership of its intellectual property. The government’s investments seem to benefit foreign companies more than Canadian firms, with a significant portion of AI patents leaving the country.
Industry experts argue that Canada must focus on owning and commercializing its AI intellectual property to compete on a global scale. While the country has world-renowned AI researchers and institutes, there is a pressing need to bridge the gap between research and practical applications to drive innovation and economic growth.
With a multi-billion-dollar investment in AI infrastructure and talent development, Canada aims to address these challenges and position itself as a leader in responsible, democratic AI development. Despite the obstacles, the potential for Canada to become a key player in the AI industry remains evident.