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2021 Taiwan AI Trend Report: More than 80% of the companies have tried to introduce AI into their business
Hive Ventures debuted “2021 Taiwan AI Trend Report” at the first Galaxy Summit on March 24th, 2021. The report demonstrated that Taiwan is a rising star in AI. More than 80% of the companies have tried to introduce AI into their business, and a quarter of the companies have been not only actively applying but also expanding the use of AI.
According to the report, which surveyed 247 Taiwanese companies across more than 10 fields, the AI development of Taiwan is now only three years behind that of the United States. If the talent pool and production capacity are invested constantly in the future, there will be a chance to catch up with the United States at the application level within three years.
Welcome download the 2021 Taiwan AI Trend Report here, and English version is coming.
For example, AU Optronics, which supplies carmakers like Tesla, BMW, Ford and Toyota, is also the world's second-largest notebook display supplier, has introduced thousands of AI prediction models since 2018, of which 48% are used to improve efficiency, 38% are used for process control, and the rest are used for equipment maintenance. So far, AUO has had 100 AI projects and trained 300 AI experts. AI has improved the company's human effectiveness, production yield, and production costs by more than 10 billion.
However, 74% of the enterprises still need more than 3 months to deploy an AI model successfully. As most of the respondes mentioned, the lack of professional implementing methods and experienced data scientists are the main challenges for companies that just started to transform their business.
Fortunately, there already are mature solutions for this. AI software "Out of the Box" developed by ProfetAI (Jalen Intelligence), a startup company that has coached many manufacturing industries to adopt AI, assisted plants to implement AI within seven days.
Furthermore, Infuse AI, a company focusing on making AI workflow easier, has built a platform to simplify the development and delivery process of AI models through MLOps. "By doing so, the data teams can focus on achieving productivity," said Jia-Liang Gao, founder of Infuse AI.
"A lot of companies wanted to introduce AI into their business, but they had no clue about how to deploy the technology into their production line, the actions of the pioneers, or what to do next. This is why we carried out the report," said Yan-Shu Lee, co-founder and managing partner of Hive Ventures, a venture capital investing in early-stage teams focusing on AI.
"One important finding is that we generally thought Taiwanese companies are cost-management-oriented. However, this survey found that the greatest purpose of the interviewed companies' introduction of AI is to improve organizational efficiency and increase new revenue," he said. “It tells that Taiwanese enterprise have changed from cost-reducing to competitiveness-enhancing mindset."
As Taiwan has well-developed in semiconductor technology, which has laid the foundation for the development of AI applications, along with the investment of the government, Taiwan has a great opportunity to breed more AI unicorns in Asia.
The government has assisted both the information and digital industries of the six core strategic industries and Asia Silicon Valley 2.0 to verify AIoT application services, thereby export to the international market. "We will continue to cooperate with the companies and optimize the AI development environment through investment, technology, and rearing talent," said Kung Ming-Hsin, Chair of National Development Council.
Since they have seen many high-quality AI companies, Yan-shu Lee said that they will increase the investment and explore more AI teams this year. He is confident that there will be several dark horse companies in the AI field in Taiwan.
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