Creating a Prototype for AI-Based Art Appraisal and Valuation app
Which problems do we solve?
A handful of influential pros dominate the global art market.
Valuations are conducted by galleries, art critics and art resellers. Intermediaries may favour specific pieces for commercial reasons.
Difficult to enter for emerging artists.
Non-pro art collectors often lack the expertise to independently assess the value of a chosen artwork and its future prospects.
What might be the solution?
An AI-based art appraisal and valuation app.
The project aims to create an innovative, AI-based solution that removes the guesswork from art valuation. By analyzing a multitude of factors, the system should generate the current market value of any artwork, along with buy/sell recommendations and a forecast for its future worth.
Building a working prototype will allow to validate the accuracy and interpretation capabilities of the system, demonstrating its real-world potential and paving the way for a commercially viable AI application.
Roadmap
08-09 2024
10-11 2024
12 2024 ― 01 2025
2025 02-03
2025 04-6
The project is implemented under the activity "Financial incentives for startups and subsidiaries to create AI, blockchain technology, robotic process automation products and solutions" of the progress measure "Stimulating the digitalization of enterprises" of the 2022-2030 Economic Transformation and Competitiveness Development Programme of the Ministry of Economy and Innovation of the Republic of Lithuania.
Project budget ― 111 800 Eur, of which EU funding ― 86 000 Eur
Project implementation period ― 2024 06 ― 2025 06.
The project is implemented by UAB "Annifer"