SINGAPORE/ TAIPEI – Once touted as among the fabled "Asian Tigers", the Taiwan economy has fallen dramatically behind its counterparts including Singapore, Hong Kong and South Korea.

But after being mired in the economic doldrums for decades, Taiwan – which is the home of hardware giants Acer, ASUS, Foxconn and HTC – could be better poised than its regional rivals to ride the technological wave, said experts, citing its private sector capabilities in artificial intelligence, Internet of Things (IoT), and autonomous vehicles for example.

In January, Taiwan's capital Taipei announced plans to become a "smart city" powered by blockchain technologies. Meanwhile, advanced technology firms, such as artificial-intelligence (AI) company Appier, is using Taiwan as a base, even as traditional powerhouses like Acer pour greater resources into creating smart solutions.

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