“Despite the decrease in the price of memory ICs which has led to the first significant slowdown in the global semiconductor market this year since 2012, the semiconductor market value is estimated to still manage to reach USD 458.5 billion in 2019, down merely 2.2% compared to last year,” Chris Hung, Deputy General Director at MIC, told the audience at the forum.

"Our findings also suggest AI revenue for consumer applications will increase from US$1.8 billion in 2019 to US$4.15 billion in 2022, among which the application of natural language processing technology for AI is of great importance with over 60% contribution to AI revenue in the consumer sector,” said Jane Yeh, senior industry analyst at MIC.

“This implies that AI has been successfully implemented into consumer applications, including home appliances, smart home devices, and communications devices. Thus, businesses which have hardware manufacturing capabilities are advised to cut into key component supply chains of AI consumer devices to facilitate the adoption of key components in the high-end product segment.”