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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.

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

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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