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IRIS AI

IRIS.AI: The Artificial Intelligence-powered R&D assistant

Total Cost €

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EC-Contrib. €

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Partnership

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 IRIS AI project word cloud

Explore the words cloud of the IRIS AI project. It provides you a very rough idea of what is the project "IRIS AI" about.

90    algorithm    automates    2017    people    intelligence    famous    business    expertise    innovative    never    time    2024    solving    journal    market    iris    accuracy    sharing    prestigious    materials    50    companies    1400    giving    area    day    papers    first    ibm    trying    data    billions    period    literature    cumulative    neural    corporate    trainers    8m    net    network    worth    featured    big    brains    human    freemium    baidu    document    answer    watson    precision    birth    community    reviewing    85    uses    read    sadly    2023    aid    cagr    context    artificial    fraction    experts    similarity    55    saving    board    billion    unrelated    ai    invaluable    model    researcher    2015    solution    powered    scientist    questions    generally    decided    globally    thanks    sense    hired    clients    progression    cited    published    4000       ranking    fast    science    more    understand    google    lengthy    profit    valued    manual    xprize    company    hypothesis    overcome    professionals    5m    team    accelerate    scientific    rely   

Project "IRIS AI" data sheet

The following table provides information about the project.

Coordinator
IRIS AI AS 

Organization address
address: EDELGRANVEIEN 28
city: BEKKESTUA
postcode: 1356
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Norway [NO]
 Project website https://www.iris.ai/
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 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)
 Code Call H2020-SMEInst-2018-2020-1
 Funding Scheme SME-1
 Starting year 2018
 Duration (year-month-day) from 2018-11-01   to  2019-02-28

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    IRIS AI AS NO (BEKKESTUA) coordinator 50˙000.00

Map

 Project objective

More than 4000 research papers are published every day. Sadly, our human brains can only process a fraction of this knowledge. As a result, 50% of papers published are read by less than three people and as many as 90% of papers published are never cited. Currently, researchers rely on a lengthy manual process when reviewing scientific literature or trying to find a solution to a complex questions, generally only looking for papers within their expertise area, when the answer may be in an unrelated area. At Iris AI AS, we decided to overcome such challenges by giving birth to Iris.ai, the first Artificial Intelligence-powered researcher. Iris.ai uses a neural network algorithm to understand context and document similarity. It automates the process of finding relevant scientific literature and creating new hypothesis, saving up to 90% time of the research process and increasing accuracy with a 85% precision. As a result, it will accelerate the progression of knowledge and problems solving. Iris.ai is quickly becoming effective thanks to our team of data scientist experts and the invaluable help from our community of AI trainers, who aid Iris.ai make sense of science. Iris.ai is also becoming famous! We have been featured in the $5M IBM Watson AI XPRIZE or the prestigious Science journal and were selected by Fast Company in 2017 as one of the top 10 most innovative companies in AI (sharing ranking with Google, IBM and Baidu). Furthermore, we have big corporate clients such already on board. With Iris.ai, we will be first targeting the materials science R&D market, estimated to be worth €85 billion by 2024 and growing at a 10.4% CAGR (period 2015-2024) although our long-term goal is R&D at large globally valued at €1400 billions per year. By using a freemium business model approach, we expect to have a cumulative net profit of €55.8M and have hired 100 new professionals by the end of 2023.

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The information about "IRIS AI" are provided by the European Opendata Portal: CORDIS opendata.

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