PRESS RELEASE
7% of Applicants receive EU grant, Underscoring Significance of Solution for Validation of AI models by QuantPi
February 6, 2024, Saarbrücken – QuantPi, a German start-up in the AI Trust Management space, secures a €2.5 million grant from the European Innovation Council (EIC) to build a platform for trustworthy generative AI. This prestigious grant supports the commitment of QuantPi to enable society for a safe and self-determined existence with artificial intelligence.
Out of 648 full applications received by the European Innovation Council, only 7% were successful, making QuantPi's accomplishment a noteworthy milestone. The €2.5 million grant will be strategically allocated to reinforce QuantPi's commitment to Sustainable Development Goals (SDGs) and to operationalize the principles outlined in the EU AI Act and the Liability Directive.
While providers and users lack resources and technologies to manage the risks of generative AI systems, QuantPi is building the necessary safeguards. The grant will go towards enhancing the company's current AI testing technology to build the first automated risk management platform to enable safety, fairness, and explainability of generative AI systems.
For providers of generative AI systems, this technology will offer a way for the highest level of ethical standards to be incorporated in their product. Organizations looking to purchase GenAI tools will be able to automate the risk assessment process during procurement, to protect their customer base and ensure investments are made only in high-quality AI. And lastly, knowing rigorous testing to uphold EU standards has been performed, will provide users with confidence and trust in generative AI systems.
QuantPi's CEO, Philipp Adamidis, expressed his enthusiasm for the grant, stating:
"This is a testament to the hard work and dedication of the entire QuantPi team. We are excited to leverage this funding to ensure the safe and responsible use of AI without slowing down progress. The grant not only accelerates our research and development efforts but also enables our commitment to contributing positively to society."
Oliver Luksic, Parliamentary State Secretary in the German Federal Ministry for Digital and Transport, also acknowledged the significance of QuantPi's achievement, stating:
"The European Innovation Council grant awarded to QuantPi exemplifies the EU's commitment to fostering innovation while upholding ethical standards. This investment will undoubtedly contribute to the broader national community's efforts to harness the benefits of AI responsibly and I believe QuantPi is in the right position to offer meaningful solutions."
QuantPi is committed to make a lasting impact on Europe and the broader global community by pioneering advancements in the safe usage of generative AI. The diverse, international team believes that ethics and societal well-being are drivers of high-quality innovation and look forward to securing trustworthy AI in collaboration with its well-established partners from research, industry and standardization organizations.
Prof. Dr. Dr. h.c. Michael Backes, CEO and Founding Director of CISPA Helmholtz Center for Information Security, one of the world’s leading research sites for cyber security, explained:
“This is a huge milestone for a startup that we have supported from the onset and the next logical step in QuantPi’s technology path from foundational research to industrial application. Ensuring the trustworthiness of AI systems via transparent and scalable testing is a fundamental prerequisite for all our lives - especially in the new era of generative AI.”
About QuantPi:
QuantPi is an AI Trust Management company, which originated from the CISPA-Helmholtz Center for Information Security and Saarland University in 2020. It enables organizations to validate AI models at an unprecedented speed. Through automated risk and performance assessments, the black boxes of AI are made transparent, explainable and compliant with regulations or guidelines. With a commitment to innovation and a positive societal impact, QuantPi is dedicated to shaping the future of AI responsibly.
For more information, visit www.quantpi.com or www.linkedin.com/company/quantpi
Media Contacts:
QuantPi GmbH Nicole Sweet Leiterin der Kommunikationsabteilung Halbergstr. 4 66121 Saarbrücken | Maisberger GmbH Alicia Beem | Dr. Fabian Prechtl Claudius-Keller-Str. 3c 81669 München Tel: +49 (0)89 / 41 95 99-30 |