Page 12 - AsiaSiliconValley

Expand business opportunities in
4 innovative IoT applications to

respond to the contactless economy

The COVID-19 epidemic has tremendous impact on the world. The
"contactless economy" has emerged as a new trend as people seek to
suppress the spread of the epidemic. The demand for working from home,
online meetings, digital courses, telemedicine, video and audio entertainment
streaming, and digital financial payments has increased dramatically. There
is also potential for growth in the smart manufacturing, robotic warehousing,
and service robot market. Taiwan's performance in countering the epidemic
has received international recognition. Its National Health Insurance system,
rapid development of a management system for face masks used for disease
prevention, and face mask vending machines demonstrate Taiwan's strong ICT
prowess and cross-disciplinary integration capacity. Foreign companies invest in
Taiwan or work with Taiwanese businesses in exploring business opportunities
in the "contactless economy". They use Taiwan's ICT, machinery, and medical
equipment industries and testing grounds to develop innovative IoT applications.

Reducing the risks and costs derived
5
from changes in the global environment

Network information security and government control policy are important
factors that will affect the development of the IoT industry at the place where
the investment is made. Taiwan is deeply trusted by international corporations
due to complete regulations that fully protecting their intellectual property rights
and information security. Next, the Taiwanese government and companies
are fully aware of trends in the global industry, and flexibly adjust their supply
chains based on changes in the international economic and trade situation.
Foreign companies that invest in Taiwan or partner with Taiwanese companies
will be able to reduce the risks and costs brought by the U.S.-China trade and
technology conflicts or global pandemics.

10