MyTelescope Debuts Trendspotting and Forecasting Tool

Stockholm, Sweden-based market intelligence and search specialist MyTelescope has released an AI-based platform using search data to spot opportunities, identify market trends, analyse purchase intent and forecast future sales and market share.

MyTelescope's solution scans, analyzes and visualizes data from search engines, media monitoring and social listening. The AI has been built on the firm's own statistical model, enhanced by platforms including OpenAI and Google PaLM, and the company has raised EUR 2.0m to date, with plans to seccure more in Q1 of 2024.

The firm says the accuracy of the tool's predictions has been demonstrated in numerous trials and use cases, including its initial use four years ago in collaboration with Sveriges Riksbank to track the global development of Covid-19 and forecast recovery; and in forecasting election outcomes in Finland and Spain. It can also be used to prove business outcomes in brand building and marketing, and to help plan and budget for market changes and trends. Swedish energy group Vattenfall has been using MyTelescope's data since 2020, and will now make it available via its own Market Analytics platform, delivering market trends, forecasts and automated research analysis and due for launch across the company in October.

MyTelescope CEO and founder Rodrigo Pozo Graviz (pictured) comments: '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'.

Web site: www.mytelescope.io .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.