Taiwan is planning to invest $1 billion annually in artificial intelligence (AI) starting in 2024, as the island seeks to diversify its economy beyond semiconductors. The government aims to nurture AI talent and foster the development of AI applications across various industries. Key points: 1) Taiwan’s AI development plan will focus on six areas: smart manufacturing, smart healthcare, smart transportation, smart cities, smart finance, and smart education. 2) The plan aims to create 100,000 AI professionals by 2024 through training programs and incentives for companies to hire AI talent. 3) Taiwan hopes to attract AI companies and investments by offering tax incentives and subsidies. 4) The move is seen as a strategic shift to reduce Taiwan’s economic reliance on semiconductor manufacturing, which has faced challenges from the US-China tech war and global supply chain issues. 5) Taiwan aims to position itself as a hub for AI innovation and development in the Asia-Pacific region.