The MIC (Market Intelligence & Consulting Institute) recently held the 36th MIC Forum Spring from May 9-11. MIC observed changes in the overall AI investment market, with a year-on-year 34% decline in AI investment in 2022 due to external factors such as interest rate hikes. However, against the odds, investment in generative AI is growing and expected to drive increased capital market investment. Based on CB Insights' estimate that global investment in generative AI reached US$2.6 billion in 2022, MIC predicted that the investment amount will exceed $10 billion by 2023 during the forum event.
Global Investment in Generative AI, 2018-2022
Source: CB Insights, compiled by MIC, May 2023
Generative AI relies on a substantial amount of data and computational power, which in turns fuels demand and innovation in software and hardware products such as cloud services, databases, and chips. MIC emphasizes that generative AI provides emerging applications and business models across various industries, forming a generative AI ecosystem and benefiting Taiwanese ICT companies.
Established in 1987, MIC is a division of III (Institute for Information Industry), a major government think tank, and one of the leading IT research institutes in Taiwan.
To know more about this topic, please visit: 2022 AI Applications and Demand Survey: Taiwan's Manufacturing Industry Results (pre-order), Taiwan Merchandise Industry: AI Spending in 2022
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