GenIP PLC GenIP recognises Nobel Prize in Physics

RNS Number : 6205H

GenIP PLC

10 October 2024

 

 

 

 

 

 

10 October 2024 

 

 

GenIP Plc

("GenIP" or the "Company")

 

Nobel Prize in Physics Paves the Way for the Future of Generative AI (GenAI)

Building on the groundbreaking advancements in machine learning recognised by [2024] Nobel Prize in Physics[1] [awarded on 8 October 2024], GenIP, a GenAI-powered analytic services provider, is well positioned to potentially transform the way research organisations have historically assessed and commercialised their discoveries.

The Nobel laureates' work on using physics to find patterns in information has laid the foundation for the development of artificial neural networks, a cornerstone of machine learning. GenIP's GenAI platform leverages these sorts of advancements to provide a suite of powerful AI-powered services, including:

·      Invention Evaluator: This platform generates bespoke research reports that assess the market potential of new innovations and discoveries. By integrating GenAI algorithms, Invention Evaluator can now deliver more comprehensive reports in multiple languages, with faster turnaround times and reduced costs.

·      Vortechs: This platform utilises machine learning and natural language processing (NLP) to connect technology companies with the right executives for their business needs.

The recent launch of GenIP's enhanced GenAI services has already yielded promising results. Since September 2024, the company has secured more than 80 new orders for its Invention Evaluator analytic service and four new orders for its specialised Vortechs placement service.

Generative AI Analytic Services Market

As the GenAI market continues to expand at a rapid pace, GenIP is well-positioned to capitalise on this growth. According to a recent report by Precedence Research[2], the global GenAI market is expected to reach $5.4b by 2030. This surge in demand is driven by factors such as the increasing availability of large datasets, advancements in hardware, and the growing recognition of the transformative potential of GenAI based services to rapidly add value at low cost for various industries.

Melissa Cruz, CEO of GenIP, comments:

"We are thrilled to be at the forefront of this exciting new frontier in AI. The breakthroughs recognised by the Nobel committee are paving the way for a new era of scientific discovery and commercialisation. GenIP's GenAI services are empowering research organisations to unlock the full potential of their innovations and bring them to market faster and more efficiently."

 

 

 

For further information regarding GenIP, please visit www.genip.ai, or contact:

 

GenIP Plc Melissa Cruz, CEO		Via Redchurch Communications
Redchurch Communications (Financial PR) John Casey		[e-mail]

 

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About GenIP

 

GenIP provides generative artificial intelligence (GenAI) analytic services to help companies, research institutions and venture funds assess and commercialise new discoveries. GenIP combines expert human technical review with GenAI algorithms to provide insightful and verified services.

 

GenIP provides two complementary platform-based services:

1.   Invention Evaluator: Provides bespoke research reports that assess the market potential of new technological innovations and discoveries using AI-driven proprietary software; and

 

2.   Vortechs: which is an executive recruitment platform that through advanced machine learning algorithms and natural language processing technologies assists in matching technology organisations with experienced executives skilled in technology commercialisation.

 

The Company believes that its integrated GenAI service offerings will help organisations to evaluate and commercialise their technological innovations. 

Company Strategy

GenIP's goal is to create a leading Generative AI analytic services company. To achieve this, the Company has established three strategic pillars:

 

·    Organically grow Invention Evaluator and Vortechs' revenue through institutional and corporate connections as well as increase client pipeline through marketing, advertising and social media spend.

·    Expand the Generative AI service offerings within InventionEvaluator and Vortechs' to reach new customers and improve margins.

·    Bolt-on acquisitions of additional Generative AI services that are helpful to our clients and have demonstrated initial market traction. 

 

 

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[1] https://www.nobelprize.org/prizes/physics/2024/press-release/

[2] https://www.precedenceresearch.com/generative-ai-in-analytics-market 

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