Taiwan vies with Singapore as AI hub for US tech companies

U.S. technology companies are converging on Taiwan to build regional research and development centers, drawn by the island's relatively low wages and the government's strategy of forging closer ties with Washington. IBM and Oath, the parent company of Yahoo, have all announced plans this year to build their research and development hubs on the island and to initiate large recruitment projects. "The approach of President Tsai Ing-wen's government to shift away from China and forge closer ties with the U.S. is a strong push behind many U.S. companies' investments over the past one year," said Gordon Sun, director of the Economic Forecasting Center at the Taiwan Institute of Economic Research. Attracting investments from U.S. tech companies is part of the government's plans to build an artificial intelligence industry. Taiwan has pledged to pour 10 billion New Taiwan dollars ($326 million) each year into AI-related investments over the next three years.