This paper outlines the broader aspects and landscape of Canada’s existing AI policy and strategy, and suggests additional measures to pave the way for enhanced commercialization of Canadian AI, accelerated industrialization, and responsible and sustainable prosperity. Recent trends in AI and digital adoption, coupled with accelerated digital transformation, warrant an AI strategy that focuses on increased commercialization, effective governance, and an understanding of social impacts. A renewed lens on the existing national AI strategy, this industrial strategy expands on commercialization of Canadian AI, including an analysis of Canadian IP ownership. It also investigates supports needed for Canadian AI to scale, including key programs and resources, further investment in digital infrastructure, talent attraction and retention, building modern privacy legislation and industry standards, and recommendations to support responsible AI governance. On the talent side, investment in AI research—the core focus of the current AI strategy—encompasses only a fraction of future AI talent needs in Canada; a strong talent pipeline that is equitable and accountable, yet also data- centric, will be a key component of commercialization and good governance going forward. Finally, a successful industrial AI strategy must be accompanied by responsible innovation and sustainable and inclusive growth. Together, these aspects form the core of a renewed and enhanced AI industrialization strategy for Canada.