European Innovation Council to investigate if AI is responsible for low success rates

EIC president Michiel Scheffer says the body is looking into a flood of applications for new innovation challenges The leadership of the European Innovation Council (EIC) is discussing whether artificial intelligence is to blame for a flood of applications to its new Advanced Innovation Challenges, which are already overwhelmed with proposals. Earlier this month, Science|Business reported that the EIC's inaugural challenges are likely to have a success rate of just 2.8%. For its February deadline, the council received more than 700 proposals for just two challenges. There were 425 applications for a call into physical AI, and 284 for a challenge on replacing animals in scientific experiments. With such intense competition, the fear is that the best teams with other options to raise...