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
|
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genip@weareredchurch.com
|
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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-