Market-focused Technology Centre CeADAR which is focused on the development of artificial intelligence (AI), data analytics and machine learning, is in the process of raising €28m from both public and private sources.
Enterprise Ireland has confirmed that it is investing €12m in a funding round that will be dispersed over a five-year period.
The funding package approved by Enterprise Ireland will be matched by an additional industry contribution of almost €10m with another €6m expected to be won from other competitive funding sources.
“The impact of the centre is measured against its economic value add in Ireland in facilitating the deployment of AI, machine learning and analytics”
The funding will enable CeADAR to expand its operations to meet the growing demand from Irish industry and SMEs to implement AI technologies into their businesses to gain competitive advantage.
“This new funding approval aims to scale up operations at CeADAR to meet continuously growing industry demand in Ireland for support in adopting data analytics, machine learning and particularly AI into their businesses,” said Julie Sinnamon, CEO of Enterprise Ireland.
“The pace of technological change is exponential and with the high rate of adoption in this space Enterprise Ireland recognises that many organisations face a challenging journey to develop their core capabilities in these areas so that they can successfully innovate and compete with companies across the globe.”
Since CeADAR was established in 2013, it has worked with over 80-member companies, completed 60 industry-focused projects and influenced more than 600 additional Irish based companies to move towards implementing data analytics and AI as viable business tools.
“I wish to acknowledge and thank Enterprise Ireland and IDA Ireland for their significant continued investment in CeADAR: the national centre for applied AI,” said Dr Edward McDonnell, centre director at CeADAR.
“The impact of the centre is measured against its economic value add in Ireland in facilitating the deployment of AI, machine learning and analytics. I am pleased to report that the centre consistently returns significant value and competitive advantage to the 100+ businesses and industries currently working with the centre.”
It has also developed almost 50 demonstrator prototypes which are highly valued by industry, leading to over 50 technology transfer licenses signed with Irish industry.
“Advances in AI, machine learning, and data analytics are already transforming the way we work today and will lead to new ways of working and new jobs in the future,” explained Prof Orla Feely, UCD vice-president for Research, Innnovation and Impact.
“The funding announced today will enable UCD world-class researchers, to continue collaborating with TU Dublin researchers, and industry partners, to accelerate the development and commercial deployment of innovative technologies into the Irish workplace.”
She added: “This additional investment in CeADAR will serve to further enhance Ireland’s reputation as a hub of excellence in AI, machine learning, and data analytics research and innovation.”
CeADAR is headquartered at NexusUCD, the Industry Partnership Centre at UCD.
“CeADAR is facilitating the adoption of AI and machine learning into commerce and industry so its mission aligns very strongly with what TU Dublin does,” added Prof Brian Nortan, Technology University Dublin.
“As a national centre supported by Enterprise Ireland, CeADAR will keep Irish business at the forefront of a rapidly moving field and we are particularly pleased that our colleagues Robert Ross and Susan McKeever are bringing their expertise to bear as Principal Investigators.”
Pictured above (from left): Professor Brian Norton, TU Dublin; Dr Edward McDonnell, Director, CeADAR; Professor Orla Feely, Vice-President for Research, Innovation and Impact, UCD; Stephen Creaner, Executive Director, Food, Industrial, Life Sciences and Innovation, Enterprise Ireland and Professor Andrew Deeks, President, UCD. Image: Conor McCabe Photography
Written by John Kennedy (firstname.lastname@example.org)
Published: 25 September, 2019