While Canada obviously doesn't have as much clout as China or the United States in AI development, it is still an important player for a number of reasons. First, Canada is known for its strong research capacity. Canada has been involved in various initiatives, including the creation of the Global Partnership on AI. That makes Canada an actor that wants to take a stand and whose voice in this space is still important.
Nevertheless, if Canada doesn't want to fall behind, it needs to be true to its vision and values by taking very clear action at the national level. That will give Canada real credibility in this space.