We live in a crucial historical moment, with tremendous challenges ahead, from climate change to the energy crisis. ELIAS emerges from the belief that AI will be a key discipline to help us tackle these challenges. At the same time, the development of AI entails deep ethical and societal concerns that need to be addressed. As for fundamental research, ELIAS will address key scientific questions about how AI can reduce computational costs, serves to model effects of policy decisions on society, and impacts individuals. ELIAS will strive for a deep integration of the fundamental research that takes place in academia and the more applications-focused research from industry. ELIAS builds on and expands the highly successful and internationally recognized European Laboratory for Learning and Intelligent Systems (ELLIS). ELIAS will further develop the excellence criteria and the pillars in ELLIS and implement actions that will support AI researchers and young talents at different stages of their careers. Furthermore, ELIAS will develop a Sciencentrepreneurship track, with the purpose of attracting and empowering talents at the interface of scientific innovation and business and establish original AI solutions that move towards a sustainable long-term future for our planet, contribute to a cohesive society, and respect individual rights. The outcome of ELIAS will be to establish Europe as a leader in AI research in which impact on the environment, society and the individual are integral considerations during development. We will measure the success of this endeavor in terms of key indicators, including the number of new cross-institutional collaborations, the number of cross-disciplinary collaborations, the number of industry-academic partnerships, publications in