MyTelescope, a Swedish market intelligence and search startup, has introduced a groundbreaking AI platform boasting an 83% success rate in forecasting market trends and outcomes. This innovative tool utilises search data to anticipate market movements, opportunities, and potential sales, promising to revolutionise business decision-making processes.
The AI platform, designed to provide market intelligence for business forecasting, can predict a spectrum of business dynamics including opportunities, threats, market trends, competition, and purchase intent. MyTelescope has expressed confidence in the AI’s predictive abilities, owing to extensive validation since 2019. The AI’s capabilities extend beyond traditional content creation assistance, instead focusing on critical business metrics such as sales, revenue, and market share predictions.
Rodrigo Pozo Graviz, CEO and Founder of MyTelescope, highlighted the unique aspect of the AI platform, stating, “The tool has been built to forecast sales, revenue and market share. This differentiates it from other AI solutions which generally focus on assisting users in creating content.”
This AI tool has been instrumental for Swedish energy company Vattenfall, which has been utilising MyTelescope’s data since 2020. Vattenfall will now provide company-wide access to this AI tool, aiming to enhance market intelligence and support the company’s goal of a fossil-free world. The platform, named Vattenfall Market Analytics, is set to launch across the organisation in October and will facilitate market trend analysis and automated research.
Sven Bergvall from Vattenfall’s Strategic intelligence team commented on the collaboration, “We’ve used MyTelescope’s data for two years to drive our teams towards a fossil-free world with real-time market insights. We partnered with MyTelescope to build AI for faster data access. We’re excited about this collaboration.”
MyTelescope’s AI has also demonstrated its predictive power in forecasting election results in Finland and Spain and has proven to be a valuable tool for substantiating business outcomes in branding and marketing. The platform provides a more reliable forecast for management and supply chains, guiding budget allocation with a higher level of precision than traditional methods.
The AI’s underlying technology is based on a proprietary statistical model, further enhanced by AI platforms like OpenAI and Google PaLM, achieving an NLP accuracy rate of 97%. To support its ongoing development, MyTelescope has already secured €2.0M in funding and is planning another funding round in the first quarter of 2024.