Taiwan's government will earmark NT$17.7 billion (US$600.15 million) for the implementation of a project, "Beyond Vision," aiming to foster the development of vertical display applications covering four major areas - smart retailing, smart medical care, smart traffic and smart entertainment - during a target period from 2020-2024.

The project also calls for achieving a long-term goal that will ramp up the production of Taiwan's flat panel industry to NT$2.5 trillion by 2030, according to government officials.

The production of Taiwan's displays industry reached NT$1.4 trillion in 2019, accounting for 8% of its GDP, government data shows.

Of the budget for Beyond Vision, NT$8.9 billion will be utilized for the joint development of new technologies by organizations and private enterprises, and another NT$6.5 billion for developing demonstrative applications and scenario validation.

Although the five-year budget is just a small sum as far as the scale of the displays industry is concerned, most local panel makers including AU Optronics (AUO) and Innolux have hailed the initiative, believing it will help speed up transformation, encourage differentiation and strengthen technology upgrading of Taiwan's displays industry.

AUO said that the objectives highlighted by the project are in line with its established policy focusing on value transformation and it will support and participate in related programs.

Innolux said that the company is also striving for transformation, product upgrading, technology advancements and new applications developments optimized by AI-based smart manufacturing.

Innolux has said it will invest over NT$70.1 billion to expand its AI-based automated production lines and strength its R&D push for developing forward-looking technologies.

By DIGITIMES