Taiwan plans AI projects to boost economy by US$510bil
Premier Cho Jung-tai said in a Facebook post late on Tuesday that Taiwan aims to leverage its information and communications technology (ICT) sector and world-leading semiconductor manufacturing capabilities to become a global AI influencer and a "smart technology island."
Under the initiative, Taiwan has identified three core technologies as strategic priorities: silicon photonics, quantum technology and AI robotics.
Silicon photonics is a technology that Taiwan's TSMC , the world's largest contract chipmaker, and many other firms in the industry are actively developing.
The government aims to position Taiwan as a global leader in silicon photonics by aligning the sector with future AI development needs.
Taiwan also hopes to become a key hub for AI robotics by tapping its hardware and ICT supply chains.
Industry groups, including one led by Foxconn Chairman Young Liu, have backed the move with the formation of the Taiwan AI Robotics Industry Grand Alliance on Tuesday to support the local development of AI robotics and related ecosystems.
Taiwan also plans to establish a quantum technology industry chain.
The 10 projects also include the development of sovereign AI - ability to build and control domestic AI technologies - and computing infrastructure, efforts to balance AI development across different regions of the island, and the introduction of AI across a wide range of industries.
The government also calls for expanding investment in AI innovation, with more than T$100 billion (US$3.08 billion) in venture capital funding, as it seeks to become a global hub for AI talent and investment.
The initiative targets the creation of 500,000 jobs and the establishment of three international-level research laboratories.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
25 minutes ago
- New Straits Times
Liverpool sign forward Ekitike from Eintracht Frankfurt
LONDON: Liverpool completed the signing of striker Hugo Ekitike from Eintracht Frankfurt on Wednesday for a reported £69 million (US$92 million) as the Premier League champions continued their summer spending spree. "The 23-year-old has successfully completed a medical and agreed personal terms with the Reds, allowing him to fly out to Hong Kong to join his new teammates on their pre-season tour of Asia later this week," Liverpool said in a statement. The deal taking the France Under-21 international to Anfield is set to push Liverpool's spending past £250m this summer. Liverpool switched their focus to Ekitike following Newcastle's refusal to sell Sweden striker Alexander Isak, who is valued at around £150 million by the Magpies. Newcastle and Manchester United were also interested in Ekitike, but Liverpool have won the race for one of Europe's hottest young stars. It is believed the Reds have agreed to pay a potential further £10 million in add-ons to sign Ekitike, whose overall price tag could reach £79 million. Ekitike scored 22 goals in 48 games in all competitions for Frankfurt last season after joining the Bundesliga club from Paris Saint-Germain. He was named in the Bundesliga team of the season as Frankfurt finished third in Germany last term. Liverpool have an opening in their forward line after Diogo Jota's recent death in a car crash in Spain. The Reds are also believed to be willing to sell Uruguay striker Darwin Nunez, while Colombia forward Luis Diaz has been the target of a rejected bid from Bayern Munich. Liverpool have already splashed out £116 million on Germany playmaker Florian Wirtz, as well as signing defenders Jeremie Frimpong and Milos Kerkez from Bayer Leverkusen and Bournemouth respectively. Georgia goalkeeper Giorgi Mamardashvili has also linked up with Arne Slot's side since the end of last season after agreeing his move from Valencia in 2024. Ekitike began his career with his hometown club Reims and had a brief loan spell in Denmark in 2021 before earning a move to PSG the following year. He struggled to make an impact in his first season in Paris alongside the likes of Lionel Messi, Kylian Mbappe and Neymar, but claimed a Ligue 1 winner's medal. His opportunities were again limited at the start of the 2023-24 campaign before he joined Frankfurt on loan. "Hugo has improved tremendously in his 18 months with us and has been a real asset to our team and the club as a whole on and off the pitch," said Eintracht sporting director Markus Krosche.
The Star
an hour ago
- The Star
Oil prices steady with trade talks in focus
Brent crude futures settled 8 cents, or 0.12%, lower at US$68.51 a barrel, while US West Texas Intermediate crude futures were down 6 cents, or 0.09%, at US$65.25 per barrel. NEW YORK: Oil prices were little changed on Wednesday as investors assessed trade developments between the European Union and the US after President Donald Trump reached a tariff deal with Japan. Brent crude futures settled 8 cents, or 0.12%, lower at US$68.51 a barrel, while US West Texas Intermediate crude futures were down 6 cents, or 0.09%, at US$65.25 per barrel. On Wednesday, EU officials said they were heading towards a trade deal with Washington that would result in a broad 15% tariff on EU goods imported into the US, avoiding a harsher 30% levy slated to be implemented from August 1. Just hours earlier, Trump said the US and Japan had struck a trade deal that lowers tariffs on auto imports and spares Tokyo from punishing new levies on other goods in exchange for a US$550 billion package of US-bound investment and loans. "The trade deal with Japan might be a template for trade deals with other countries," said Andrew Lipow, president of Lipow Oil Associates. "On the other hand, the market is still concerned about the US coming to an agreement with the European Union and China." The European Commission planned to submit counter-tariffs on 93 billion euros (US$109 billion) of US goods for approval to EU members. A vote is expected on Thursday, though no measures would be imposed until August 7. Both benchmarks lost about 1% on Tuesday after the EU said it was considering countermeasures against US tariffs. "The slide (in prices) of the past three sessions appears to have abated, but I don't expect much of an upward impetus from news of the US-Japan trade deal as the hurdles and delays being reported in talks with the EU and China will remain a drag on sentiment," said Vandana Hari, founder of oil market analysis provider Vanda Insights. On the supply side, US Energy Information Administration data showed US crude inventories fell last week by 3.2 million barrels to 419 million barrels, compared with analysts' expectations in a Reuters poll for a 1.6 million-barrel draw. "That's a bullish swing," said Bob Yawger, director of energy futures at Mizuho. "It was largely a function of import-export dynamics." US crude exports were up by 337,000 barrels per day (bpd) to 3.86 million bpd, while net US crude imports fell last week by 740,000 barrels per day, the EIA said. In another bullish sign for the crude market, the US energy secretary said on Tuesday that the US would consider sanctioning Russian oil to end the war in Ukraine. The EU on Friday agreed its 18th sanctions package against Russia, lowering the price cap for Russian crude. — Reuters
New Straits Times
an hour ago
- New Straits Times
Taiwan plans AI projects to boost economy
TAIPEI: Taiwan plans to launch its "10 Major AI Infrastructure Projects" initiative, aimed at generating more than T$15 trillion in economic value by 2040 as it strives to become a global leader in artificial intelligence (AI). Premier Cho Jung-tai said in a Facebook post late on Tuesday that Taiwan aims to leverage its information and communications technology (ICT) sector and world-leading semiconductor manufacturing capabilities to become a global AI influencer and a "smart technology island". Under the initiative, Taiwan has identified three core technologies as strategic priorities: silicon photonics, quantum technology and AI robotics. Silicon photonics is a technology that Taiwan's TSMC , the world's largest contract chipmaker, and many other firms in the industry are actively developing. The government aims to position Taiwan as a global leader in silicon photonics by aligning the sector with future AI development needs. Taiwan also hopes to become a key hub for AI robotics by tapping its hardware and ICT supply chains. Industry groups, including one led by Foxconn chairman Young Liu, have backed the move with the formation of the Taiwan AI Robotics Industry Grand Alliance on Tuesday to support the local development of AI robotics and related ecosystems. The 10 projects also include the development of sovereign AI — ability to build and control domestic AI technologies — and computing infrastructure, efforts to balance AI development across different regions of the island and the introduction of AI across a wide range of industries. The initiative targets the creation of 500,000 jobs and the establishment of three international-level research laboratories. — REUTERS
