MyTelescope releases new AI platform with 83% success rate of forecasting the future
Companies and organizations can now prove their activities are business-critical with the new AI’s forecasting abilities, even when results wouldn’t otherwise be seen for months down the line.
Stockholm, Sweden (October 17th, 2023) Swedish market intelligence and search startup MyTelescope has released a new AI platform that uses search data to predict opportunities, market trends, future sales and market share with an accuracy of 83%. The platform is designed for forecasting and steering business decisions with market intelligence.
MyTelescope’s new AI can be used to predict opportunities, threats, market trends, competition, and purchase intent, and its effectiveness has already been demonstrated in numerous use cases. The data was initially used four years ago in collaboration with Sveriges Riksbank to successfully track the movement of COVID-19 around the world and forecast post-pandemic progress.
“We’ve been working with the data set since the beginning of 2019 with lots of validation, so we’re very confident in its forecasting abilities. 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. If you think about Apple, they didn’t invent the computer, but they made it easier to use and get the most out of it, and that’s what we did with AI,” says Rodrigo Pozo Graviz, CEO and Founder of My Telescope.
Swedish energy group Vattenfall has been a user of MyTelescope’s data since 2020, and is now providing full access to its analysis and forecasting tool to the entire team. This step aims to boost efficiency in gathering intelligence and driving actions toward the critical mission of a fossil-free world.
The Vattenfall Market Analytics platform, powered by MyTelescope, will launch across Vattenfall in October. It will deliver market trends, forecasts, and automated research analysis. This move is expected to empower Vattenfall teams to enhance their learning and insights, reducing reliance on the often-burdened strategic insights team and utilizing AI to expand strategic market intelligence efforts.
“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,” says Sven Bergvall, Strategic intelligence at Vattenfall.
The tool has even been used to accurately forecast election outcomes in Finland and Spain. It can be used to prove business outcomes in brand building and marketing in addition to being a reliable indication for management and supply chains of where the market is heading and how to steer budgets accordingly.
“You can spend money building brands or making considerable business decisions and have a hard time proving outcomes. But when you use search engine data, you see a trend line that enables you to make decisions based on keyword data with an 83% accuracy rate of forecasting your success. Traditionally, you would have to rely on historical data or other means that simply can’t give you this level of accuracy when it comes to predicting the future.”
MyTelescope’s AI is built on its own statistical model enhanced by AI platforms like OpenAI and Google PaLM. It has an NLP accuracy of 97%. To date, the company has raised €2.0M, with plans to secure future funding in Q1 of 2024.
Roderigo Graviz, CEO
My Telescope
+45700924031
rodrigo@mytelescope.io
About MyTelescope
MyTelescope is a market research SaaS solution to measure market trends, brand strength, and marketing campaign effectiveness in almost real-time using Share of Search Analytics. My Telescope’s AI solution scans, analyzes, and visualizes data from search engines, media monitoring, and social listening so marketers have actionable insights for increased agility. My Telescope is trusted by clients within FMCG, consumer goods, heavy industry, defence, automotive, charity, and many more. For more information, visit https://mytelescope.io.