Minister for Finance, Jack Chambers TD, launches Impact Report showcasing major contributions of ADAPT’s AI-Driven Research

Dublin, Thursday, 26th September 2024: The ADAPT Research Ireland Centre for AI-Driven Digital Content Technology released its latest impact report today, showcasing the Centre’s significant contributions to the Irish economy and society valued at over €1.1 billion. Minister for Finance, Jack Chambers, officially launched the report, praising ADAPT for its groundbreaking research and collaboration across diverse sectors and acknowledged the Centre’s role as a key player in defending democracy in a digital age.

ADAPT has become a key player in addressing societal challenges, fostering innovation, and driving economic growth in Ireland through its multidisciplinary research platform. Leveraging €42 million in Government investment, ADAPT has delivered a 27.5 fold return, translating into over €1.1 billion in economic impact, solidifying its position as a leading global hub for artificial intelligence (AI) research.

Launching the report, Minister for Finance, Jack Chambers TD, said: “This report clearly demonstrates ADAPT’s remarkable impact to the Irish economy and society more generally, in less than a decade. In a time where misinformation spreads rapidly, ADAPT’s work on AI and digital content is vital in combating this challenge. By advancing AI literacy and developing tools to detect deep fakes and misleading content, ADAPT ensures that technology strengthens trust and transparency in society. Their research equips individuals and institutions with the means to critically assess information, making them a key player in defending democracy in a digital world.”

Headquartered at Trinity College Dublin, ADAPT is one of Ireland’s flagship research centres funded by the Irish Government through Taighde Éireann – Research Ireland, and formerly funded under Science Foundation Ireland. 

Celine Fitzgerald, CEO of Research Ireland, welcomed the report, saying: “In a competitive global landscape, research centres must show their value across a wide range of areas. This internationally peer-reviewed Centre Network has had a transformative economic and societal impact on Ireland. ADAPT exemplifies this by combining world-class research with a strong commitment to societal good, as demonstrated by award winning engaged research and their public engagement programme, which has connected with over 507,000 people.”

ADAPT has made a global impact through collaborations with 260 partners across 38 countries, positioning Ireland as a leader in AI research and innovation. The Centre has hosted 64 international conferences, which attracted nearly 24,000 delegates from around the world to Ireland.  These conferences showcased cutting edge AI research and generated €38 million in economic activity through delegate spending on accommodation, dining, transport, and local services.  

The Centre employs over 300 highly skilled professionals and has supported the creation of 1039 new research jobs in Ireland.  It has nurtured 22 high-potential startups such as MoovAhead, SoapBox Labs, and Biologit, which have collectively generated more than 144 jobs and attracted over €340 million in multinational investment.  These companies are boosting Ireland’s tech ecosystem and are at the forefront of fields such as immersive learning, digital mental health support, and voice AI.

Professor John D Kelleher, Director of the ADAPT Centre at Trinity College Dublin, said: “The potential of generative AI to reshape our world is limitless, but the path it takes depends on the choices we make now. At ADAPT, we’re fortunate to have a diverse community of researchers examining both the opportunities and risks of this technology.  By drawing on world-class Irish-based researchers from a range of disciplines such as data science, AI, clinical sciences, and the humanities, our research focuses on how AI will shape critical areas such as work, education, culture, and healthcare.”

Key highlights of the report published today include:

• Total Economic Impact: ADAPT’s activities from 2015 to 2023 generated an economic impact of over €1.1 billion, reflecting a 27.5-fold return on the Government’s investment.
• Research Funding Success: ADAPT researchers secured over €177 million in competitive funding, including €50 million from EU sources, boosting Ireland’s standing in international research.
• Government Investment Leverage: For every €1 invested by the State, ADAPT secured an additional €4.18 of inward investment from external sources such as industry and EU funding, demonstrating efficient leveraging of public funds.
• Spin-Out Companies: ADAPT researchers have successfully spun out 22 companies, creating 144 new jobs and attracting over €340 million in foreign investment, which further strengthens Ireland’s economy.
• Scientific Excellence: ADAPT researchers have authored more than 2,600 peer reviewed articles since January 2015 with over 60 of these papers earning prestigious best paper or presentation awards.
• Talent Development: ADAPT has trained a total of 337 alumni, 40% of whom work in industry, while 49% are employed in academia. ADAPT’S alumni (since 2015) represent 39 different nationalities.
• Industry Collaboration: ADAPT has engaged in over 60 collaborative projects with 72 industry partners across 32 countries, driving innovation and enhancing Ireland’s global competitiveness.
• Commercialisation: ADAPT inventors have signed 77 licence agreements with companies in both Ireland and internationally.
• Foreign Direct Investment (FDI): ADAPT’s world-class research has influenced the decisions of 19 multinational companies to invest or expand their operations in Ireland, creating 591 new research jobs and bringing €172 million in investment.
• International Conferences: Between 2015 and 2023, ADAPT hosted 64 international conferences. These conferences were attended by almost 24,000 delegates. The estimated impact of these conferences on the Irish economy is €38.1m.
• AI Literacy and Public Engagement: ADAPT has reached over 507,000 members of the public, helping to build a greater understanding of AI and its influence on our everyday lives, including educating and building AI literacy for over 67,000 citizens through the #DiscussAI campaign.

ADAPT’s initial funding from the Irish Government currently extends through 2026, ensuring continued contributions to Ireland’s economy and the global AI research landscape. 

The full Impact Report is available to download.