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Artificial Intelligence (AI) is an upcoming general-purpose technology that is creating new business opportunities and disrupting entire industries. Startups and large corporations are well-positioned to leverage AI’s capabilities, but midsize companies risk being left behind. To remedy this, midsize firms should consider pooling their data and talent in joint AI ventures. Corporate AI innovation is fairly concentrated with the top-10 patenting firms accounting for more than 15% of AI patents in the period 2011 to 2016. Additionally, AI startups are increasingly being targeted by corporate venture capital (CVC) investment, with more than $5 billion in CVC funding being invested in AI startups in 2018.