Canada is lagging behind when it comes to turning its substantial AI knowledge into companies and products, CP reports. Image: Unsplash/Growtika

Despite spending billions to develop AI, Canada has failed to capitalize on its investment, according to CP. About three-quarters of patents produced by researchers who work for Toronto’s Vector and Montreal’s Mila end up in the hands of foreign companies like Uber and Nvidia, CP reported, citing research by intellectual property lawyer Jim Hinton, which also found another 18 per cent of patents are held by North American academic institutions and only seven per cent are held by Canadian companies.