Cabinet Unveils Multi-Billion Dollar Plan for AI Development

6 months ago

Taiwan has released a long-anticipated AI roadmap from its National Development Council, outlining more than US$3 billion in government investment across 10 projects, from infrastructure and health care to robotics and quantum computing. The plan also establishes a separate US$3 billion venture fund to back local startups, with officials encouraging additional private capital.

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00:00Details of a long-awaited AI plan from the National Development Council have been made

00:05public.

00:06They include billions of U.S. dollars in AI investments, as well as venture capital for

00:10new startups.

00:12Chris Gorin was at the release of the plan's details and he brings us more now.

00:15Chris, what do we know so far?

00:19Well, as predicted, Eric, the NDC plans to spend more than $3 billion U.S. dollars across

00:2710 major projects, all of which involve AI or other high-tech industries.

00:33The announcement of the plan comes following a meeting this morning with tech and finance

00:39industry leaders who are providing advice on this plan.

00:43The NDC says that these investments now could lead to more than $500 billion U.S. dollars

00:49in new economic output and create up to 500,000 new high-paying jobs.

00:56The 10 projects include much of what we've seen the Cabinet discuss before, and that includes

01:01investments for AI in infrastructure, healthcare, chip-related technologies, robotics, quantum

01:10computing, and more.

01:12But during the release of the plan, the NDC chairman, Paul Liu, also emphasized a few key

01:18points, one of which is integrating Taiwan's software industry.

01:22Now, he noted that Taiwan has a strong position in computer hardware, but is a little bit

01:27less prominent in software compared to countries like the United States or China, and the NDC

01:33is hoping to change that.

01:40Now, in addition to the $3 billion for the 10 high-tech projects, the NDC also announced that

01:51there will be an additional more than $3 billion for a new venture capital fund for Taiwan startups.

01:58And Mark Liu also asked that the private industry invest into this fund, and he says it could

02:05see many billions more than just that initial $3 billion.

02:08Now, the NDC says that these 10 projects could lead to more than half a trillion dollars in

02:16new economic output by the year 2040.

02:19And to hear him tell it, he thinks that this could also solve some of Taiwan's big social

02:24problems like persistently low salaries and a declining birth rate.

02:29But it's clear that Taiwan is betting big on its position in the AI economy, and hoping

02:34that it can turn itself into what President Lai Ching-da has called the AI island.

02:39Eric?

02:40Thanks, Chris.

02:41This is Chris Korn, live from our newsroom here in Taipei.

Cabinet Unveils Multi-Billion Dollar Plan for AI Development

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