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Taiwan machine tool exports down 15%; government turns to AI to help address industry woes

Taiwan’s total machine tool exports dropped 14.8% year-over-year to US$2.218 billion in 2024, prompting the government to introduce measures aimed at revitalizing the industry. The Industrial Development Administration (IDA) under the Ministry of Economic Affairs (MOEA) has included machine tools as a demonstration case in its “Pilot Program for Promoting the Introduction of Generative AI in Various Industries,” aiming to address four major pain points plaguing Taiwan’s machine tool industry.