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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.

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