There is some interesting reading here: Canon Auto Focus Information
Specific to your question is the end of this paragraph:
AI Servo: When you put the camera into AI Servo mode, you have set the condition "The subject is definitely moving." The camera is in a "shutter priority" mode. Therefore, the camera goes into a routine that continually collects data to predict the subject movement and move the lens to intercept the subject at its new position. You can shoot even if out of focus (however, the camera cannot release the shutter if the lens is actually in motion). If you know your subject will be in constant motion, this is the best mode. If the subject is actually not moving, the chance of a misfocused shot increases as the camera goes through its data-collection routine. However, often a handheld camera does move (as the photographer sways naturally) for AI Focus to detect and correct for the sway. AI Servo will use whichever focus point you have activated. However, if you activate all the focus points, you must put the center point on the subject and half-press the shutter release for about half a second for the camera to "acquire" the right subject. After that, while you hold the shutter release, the camera can intelligently "hand off" the subject focus from point to point as the subject "wanders" over the viewscreen.
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