Taiwan announced plans to invest TWD16 billion ($527 million) over the next four to five years to boost the country’s artificial intelligence (AI) capabilities, The China Post reported.

The Ministry of Science and Technology is planning five initiatives: incubating AI-based services; adding value to sectors like medicine and finance by using AI; helping companies use AI; promoting public participation in AI development; and building up the country’s capacity to develop smart robotics, the newspaper said.

Funding for the AI development plan will come from Taiwan’s infrastructure bill and the cabinet’s annual budget.

Minister of Science and Technology Chen Liang-gee said the ministry plans to create a series of AI research centres across the country by the year-end, launch an AI manufacturing base in Central Taiwan Science Park in September and set up an AI development base in Southern Taiwan Science Park soon.

Chen said the government will invest TWD2 billion in the smart robotics initiative, which aims to set up 50 companies and create 4,000 jobs over the next four years.

The new investment follows China’s State Council, or cabinet, issuing its Next Generation Artificial Intelligence Development Plan in July outlining its agenda for making China the leader in AI innovation by 2030.