Artificial Intelligence (AI) induce corporates to re-design their innovation process. Due to rapid technological development, synchronization of information systems, and industrialization, corporate managers increasingly adopt AI in innovation. In response, scholars are interested in the idea of creating and mapping the intersection of AI in corporate innovation, which resulted in massive literature during the past decades. To critically analyze the phenomena of AI in corporate innovation, we conducted a hybrid review of published literature (364 articles) for the last 56 years (1996 to July 2022). We present taxonomy, outline AI phases, AI large scope definition, and link with innovation. We identify eight focal fields in the intersection of AI in corporate innovation, such as AI and business models (BM), AI and product innovation, AI and open innovation, AI and innovation process, AI and firm's innovation structure, AI, firm's knowledge and innovation, and AI, innovation and firm market performance, and AI and innovativeness of supply chain management. We outline a framework encompassing the role of AI in corporate innovation. We conclude this study by identifying influential aspects of literature and presenting future research agendas.