RCS - GenIP PLC - GenIP recognises Nobel Prize in Physics

GenipAnnouncement

10/10/2024 07:00

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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  (#_ftn1) [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  (#_ftn2) , 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
(http://www.genip.ai/) , or contact:

 

 GenIP Plc                                  Via Redchurch Communications

 Melissa Cruz, CEO

 Redchurch Communications (Financial PR)    genip@weareredchurch.com (mailto:genip@weareredchurch.com)

 John Casey

 

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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.

 

 

-ENDS-

 

 1  (#_ftnref1) https://www.nobelprize.org/prizes/physics/2024/press-release/
(https://www.nobelprize.org/prizes/physics/2024/press-release/)

 2  (#_ftnref2)
https://www.precedenceresearch.com/generative-ai-in-analytics-market
(https://www.precedenceresearch.com/generative-ai-in-analytics-market)

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