Explore the words cloud of the wecHomeAI project. It provides you a very rough idea of what is the project "wecHomeAI" about.
The following table provides information about the project.
|Coordinator Country||Sweden [SE]|
|Total cost||71˙429 €|
|EC max contribution||50˙000 € (70%)|
1. H2020-EU.3. (PRIORITY 'Societal challenges)
2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs)
3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies)
|Duration (year-month-day)||from 2018-12-01 to 2019-05-31|
Take a look of project's partnership.
Construction industry is one of the most booming industries in the world, estimated to reach 15.5 trillion€ in 2030. Although one of the most thriving industries in the world, constructions has a long history of poor productivity which cost the global economy 1.4 trillion € a year. This gap is at risk to get larger, as the urban sector demands more housing for a global urban population growing by ~200k occupants per day. In order to build new homes, real estate companies must sell a consistent percentage of the apartments included at the project stage to be able to start the construction process. Graphical previews of the furnished properties are required to enable informed decision making and speed up the construction process. However, existing solutions for interior design rely on the human factor intervention, a thorough activity demanding for excessive resources. At wec360o, we propose the first virtual interior designer, an innovation intended to help the experts in interior design (i.e. architects and interior designers) to overcome these limitations. We are a Swedish company founded in 2008, turned out to be a leading developer of enhanced 3D visualisation solutions for constructions projects. Our proposition is an application software developed as a plugin, an upgrade for all common software tools, empowering interior design with Artificial Intelligence capabilities. This will shift manual interior design towards automatically proposed customized plans, reducing time up to 97% thus keeping effort and costs to a minimum. wecHomeAI, our product, will impact thus the activity for real estate companies and architects all together. We embrace a Software as a Service approach and a Pay as you Go mechanism tailored to our customer’s needs. Through the completion of this project we expect to reach 36.7M€ cumulated revenues five years after its commercialization. Phase 2 will require 2.5M€ investment, which will generate a 8.7 Return of Investment by 2025.
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The information about "WECHOMEAI" are provided by the European Opendata Portal: CORDIS opendata.
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