11 Dec 2019 | 11.13 am
€2m Funding For AI Regulation Project
Corlytics among DTIF beneficiaries
11 Dec 2019 | 11.13 am
Corlytics is building a platform called TRANSPIRE, using artificial intelligence and machine learning to automate the monitoring, interpretation and risk assessment of laws and regulations in multiple disciplines and jurisdictions.
The 16 DTIF projects cover life sciences, medical devices, ICT, artificial intelligence, blockchain, manufacturing, and environmental sustainability, including in the waste and energy sectors. Each involves collaboration between three and seven partners, with at least one SME being involved in every project and 13 being led by an SME.
The other partners include other SMEs, as well as multinationals and academic institutions. The latest €65m of awards brings the total funding issued under DTIF to date to €140m, and amount that will rise to €500m of government funding over the ten years from 2018 to 2027.
The AI project consortium will be led by Corlytics, alongside Ireland’s Centre for Applied AI, or CeADAR, and digital consultancy Singlepoint Solutions.
The idea is that the ‘trained’ AI platform for regulation will combine human expertise with artificial intelligence to demystify laws and regulations, thus enabling organisations to deliver effective regulatory outcomes while protecting consumers and clients.
Corlytics will provide deep domain expertise in regulatory technology. CeADAR will contribute advanced text analysis and data science industrial research capabilities, with Singlepoint contributing its digital transformation experience.
Corlytics chief executive John Byrne said: “The funding serves as both an endorsement of this transformation and of our leading-edge credentials. Corlytics’ legal, financial and regulatory experts, combined with CeADAR’s and Singlepoint’s expertise, enable us to deliver a much needed platform to disrupt and transform the global regulatory industry.”
Among the other successful DTIF funding applicants are:
- Next Generation Heat Pump for Affordable Decarbonisation of Heating, led by Exergyn Ltd, with Dublin City University and Fort Wayne Metals Ireland Ltd as partners.
- Sustainable Bio-Renewable Energy from Wastewater (S-BREW), led by NVP Energy Ltd with Ashleigh Environmental Ltd and National University of Ireland, Galway (NUIG) as partners.
- Point-of-care iron stores / Ferritin testing for at risk blood donors, women and children, led by Radisens Diagnostics Ltd (RAG) with Irish Manufacturing Research (IMR), Poly Pico Technologies Ltd and Trinity College Dublin.
- Pharma Latch – a disruptive microneedle drug delivery platform, led by Latch Medical Limited with Blueacre Technologies Limited, TheraDep Limited and University College Dublin as partners.
- Developing a tailored aerosol delivery technology for the treatment of Chronic Obstructive Pulmonary Disease (COPD), led by OmniSpirant Ltd with Aerogen Ltd and National University of Galway Centre for Cell Manufacturing Ireland as partners.
- STROKE-CIS, developing a Clot Ingestion System medical technology to treat stroke, led by Perfuze Ltd with Teleflex Ltd and VistaMed Ltd.
The full list of awards and projects is available here.
Photo: John Byrne with minister Heather Humphreys.