A study by DCU Business School and Maynooth University revealed that for every €1 invested by the State, the Adapt SFI Research Centre generated €5.30 for the Irish economy.
On Tuesday (24 September), Minister for Business, Enterprise and Innovation Heather Humphreys, TD, launched a report detailing the impact that artificial intelligence (AI) research is having on the Irish economy.
The report featured data from the Adapt Science Foundation Ireland (SFI) Research Centre, which found that AI research has had a significant impact on the nation’s economy. The report also highlighted that 593 full-time jobs were created in Ireland alone as a result of research produced by Adapt.
The research centre provides a partnership between academia and industry. It is led out of Trinity College Dublin and funded by SFI, combining the expertise of researchers from Dublin City University, University College Dublin, Technological University Dublin, Maynooth University, Athlone IT and Cork IT.
A study by DCU Business School and Maynooth University found that for every €1 invested by the State, Adapt generated €5.30 for the Irish economy, equating to more than €300m in three years.
At the launch of the report, Humphreys said: “The work of the Adapt SFI Research Centre aligns with major Government initiatives, such as Future Jobs Ireland, and is helping to create a more advanced digital Ireland.
“Adapt’s research and outputs are helping to future-proof our economy by creating jobs, wealth and businesses. In an uncertain landscape caused by Brexit, Adapt is helping us secure our future.”
‘These innovations are helping to create a digital Ireland, directly addressing the Government’s aim to position Ireland as a digital hub for Europe’
– PROF VINNY WADE
Prof Vinny Wade, director of the Adapt centre, said: “Adapt’s research outputs in 2018 represents 8pc of all licences generated by research performing organisations in Ireland.
“These innovations are helping to create a digital Ireland, directly addressing the Government’s aim to position Ireland as a digital hub for Europe. This impact report shows that Ireland is well equipped to meet this challenge and through Adapt’s research, its scientific outputs and its industry collaborations, it is actively creating a digital Ireland.”
Between 2015 and 2018, Adapt has overseen the completion of 64 PhD and master’s degrees, while helping a further 6,700 industry professionals upskill.
SFI deputy director general, Dr Ciarán Seoighe, said: “SFI Research Centres attract and retain foreign direct investment in Ireland, encouraging the very best global companies to develop R&D activities here.
“They are a huge draw for high quality sustainable jobs, both directly and indirectly, and also act as agents of change. They cultivate new ways of thinking and offer cutting-edge solutions to issues and challenges that we face in many sectors.”