ADAPT, an AI-driven research centre based in Trinity, has released a report demonstrating a €1.1bn contribution to the Irish economy.
This represents a 27.5 fold return from the initial €42m government investment in the centre which is funded through Research Ireland.
The report, published in late September, outlines the economic impact of the centre over an eight year period from 2015 to 2023.
During this time ADAPT hosted 64 international conferences generating €38m in economic activity. The report also highlights the impact of 22 spinout companies “nurtured” within the centre, which have collectively created 144 jobs and attracted €340m in foreign investment.
Overall ADAPT claims to have “supported the creation” of 1,039 new research jobs in Ireland.
In the foreword of the report, ADAPT’s Director John D. Kelleher said that the centre’s work has “positioned Ireland as a global leader in AI-driven digital content technology”.
Acknowledging the “profound ethical and social challenges” brought about by AI, Kelleher emphasised ADAPT’s commitment to “diversity, ethics, and collaboration”.
“As we look ahead, we are more committed than ever to ensuring that technological advancements benefit everyone,” he said.
“By making forward-looking choices today about how AI evolves and is regulated, we can shape a future where AI-driven innovation empowers society and aligns with our deepest values.”
Speaking at the launch of the report, Minister for Finance Jack Chambers: “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,” he added.
Deep fakes, or hyper-realistic doctored images and videos made possible through AI technology, have raised concerns about privacy and security in an age of rapid technological advancement.
ADAPT’s funding from the Irish Government is set to continue through 2026, according to the release.