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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.

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

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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