As AI technology continues its relentless evolution, it is approaching its “iPhone moment,” signifying the dawn of a new global era. Recognizing the paramount impact on the private sector, businesses worldwide are fervently seeking the key to unlock further development in the industry. The “Navigating the Future of AI” forum, organized by Taiwania Capital and co-hosted by Business Next, inside, Taiwan AI Academy and SEMI, commences today with two distinguished VIPs from this year’s TIME 100/AI list: Andrew Ng and Audrey Tang. Andrew Ng is a partner of AI Fund, the founder of DeepLearning.AI, and CEO of Landing AI, while Audrey Tang serves as Taiwan’s Digital Affairs Minister.
Taiwania Capital is dedicated to bolstering the government’s six core strategic industries, with a specific focus on investments in technology and biotechnology. David Weng, the CEO of Taiwania Capital, emphasizes that the advancement of AI applications is the driving force behind innovation across various sectors. Since its inception, Taiwania Capital has unwaveringly committed itself to establishing a solid foundation for AI by catalyzing the AI transformation of Taiwan’s industries and fostering the development of the AI sector through strategic investments. Furthermore, Taiwania Capital allocates resources to facilitate connections between local and international startups and Taiwanese industries, nurturing collaboration to build a thriving industrial ecosystem in Taiwan. It is with great excitement that Taiwania Capital welcomes Andrew Ng and Audrey Tang to the same stage, with the hope that their insights as AI pioneers will pave the way for innovative AI applications in Taiwan.
The evolution of AI has been nothing short of revolutionary, introducing a diverse range of generative AI applications that have reshaped our understanding of AI’s potential. Andrew Ng highlights AI as a general-purpose technology that is penetrating every industry, ushering in new opportunities. For instance, AI Fund collaborates with experts in shipping, talent management, education, and other domains to explore innovative AI applications. Landing AI focuses on democratizing AI by enabling companies with limited data sets to realize the business value of AI and move AI projects from proof-of-concept to full-scale production through its platform which allows customers to build and deploy AI-powered visual inspection solutions. By adopting AI tools, organizations can reduce the manpower required for model development, significantly lowering the barriers to AI adoption. This empowers businesses to concentrate on data-driven innovations and swiftly reap the benefits of AI-driven transformations.
Situated in the epicenter of geopolitics, addressing the challenges that AI poses to democracy is a critical concern for both the public and private sectors. Audrey Tang asserts that the most effective solution involves embracing deliberative democracy methods, such as alignment assemblies, which invite everyone to participate in the creation of open, inclusive, and secure digital public infrastructure. In the meantime, Taiwan is committed to building consensus with international partners to ensure that global AI development transitions from a race for performance to a race for safety. This entails positioning our evaluation capabilities at the forefront of the most cutting-edge AI models and collaborating with global partners to construct a trustworthy operating environment for AI technology.
Global investors maintain a positive outlook on AI development. According to a report by CB Insights, despite recent slowdowns in startup fundraising markets, global AI startup funding reached an impressive $24.6 billion in the first half of this year, with an annual growth rate of 48%, resulting in an average deal size of $29 million. This surge has given rise to several AI unicorns, underscoring the growing interest among investors in AI ventures. David Weng emphasizes that Taiwan is ideally positioned to leverage its robust foundation in manufacturing industries to empower businesses with AI as this technology and its applications continue to soar. In pursuit of this vision, Taiwania Capital is committed to collaborating with leaders from diverse fields who are keen on tracking the latest trends in technology development. Together, our aim is to facilitate exchanges and partnerships among domestic and international startups and established Taiwanese companies, accelerating Taiwan’s industrial transformation and upgrade.