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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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 Outcomes and results

 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.

cagr    freemium    fast    scientist    literature    period    2024    50    document    company    decided    area    8m    profit    90    science    expertise    algorithm    precision    powered    network    board    artificial    reviewing    generally    watson    iris    professionals    giving    thanks    never    prestigious    community    ai    cited    similarity    baidu    ibm    net    clients    1400    team    2017    answer    55    intelligence    invaluable    materials    companies    data    papers    corporate    2015    globally    birth    trainers    human    journal    researcher    manual    hypothesis    aid    cumulative    google    understand    sadly    market    valued    4000    overcome    85    rely    billion    fraction    business    4    sense    unrelated    xprize    first    innovative    model    progression    automates    brains    trying    big    neural    hired    published    context    featured    lengthy    accuracy    5m    sharing    ranking    more    scientific    billions    worth    people    uses    2023    saving    accelerate    solving    experts    questions    famous    solution    time    day    read   

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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