December 5, 2023: Driving into the future

What is Foresight Analytics?

We use AI cameras in cars to measure driving and make roads safer

What was the insight and inspiration behind this idea?

When going to market with my previous startup's product, I realized we were not addressing the customer's immediate need for affordable insurance and were exasperating it with our solution, that led me to think we must first solve insurance for fleets before we can solve self-driving for fleets.

What is your plan for launching? How has it been received?

We take a unique lens to the problem of writing commercial auto insurance, bringing with us the capabilities in autonomous vehicle technology to solve a long-standing problem of risk assessment with the latest tech available through machine learning.

Our insurance partners have seen substantial reductions in claims and losses and our fleet customers enjoy lower premiums, they love our product because it gives them powerful data that can substantially save them money.

What has been the hardest part of your journey so far?

Learning to sell before building, learning to turn a No into a Yes (customers), and how to build products that drive sales and isn't just cool.

What are you trying to achieve over the next 12 months?

We are growing our sales and expanding the channels through which we acquire customers. Our goal is to penetrate fleet sales directly without the need for insurance premium relief to drive those sales, this will require extreme discipline and product focus to achieve and we think the realized growth will be worthwhile.

What is a proud accomplishment for you outside of your startup?

I worked on the production of the Tesla Model S taking it from 50 units/week to 1000 units/week and helped design the Model X Falcon wing doors.

Who are the Canadian startups you admire most in your market?

HDVI - high-definition vehicle insurance

Allegory App - a driving app that helps you stay safe on the road

Finaeo - a digital marketplace empowering independent life insurance brokers and increasing efficiency

Lemurian Labs - affordable, accessible, and efficient AI compute for everyone

What advice do you wish you had received when starting out?

Don’t build anything, sell something first.

What you think the world needs, is not necessarily what the world needs. Take the time to become one with your customer before you decide on building something and trying to fit it into a market.

For today’s edition, we sought inspiration from a past discussion with Superhuman founder Rahul Vohra

In an era where technological advancements seem boundless, it's baffling that certain crucial libraries have yet to emerge. One such void exists in the realm of auto-correct functionality—a staple in our daily typing experiences across various devices. The absence of a dedicated library for this essential feature is a problem that begs to be solved.

While spelling and grammar correction tools like LanguageTool exist, the absence of a swift, offline auto-correction library is glaring. The potential for such a resource to revolutionize typing experiences on numerous platforms is undeniable.

Consider the frustration of users when faced with limited options for document previews. The current landscape offers Google Drive uploads, constrained PDF downloads, or reliance on specific APIs, each with their own limitations. The absence of a robust, fast, offline library capable of seamlessly converting any file into an interactive, zoomable, and renderable preview is a pressing need.

The repercussions of addressing these gaps are monumental. On one end, the potential downside is selling a company for a substantial sum, while the upside presents the possibility of birthing a billion-dollar entity. The financial prospects are significant, but beyond that lies the opportunity to fundamentally enhance user experiences across various digital interfaces.

However, the uncharted territory doesn’t end here. A more audacious vision involves leveraging AI, perhaps through GPT-3 or similar technologies, to craft a solution for refining written content. Imagine an AI-driven system that takes raw drafts and refines them into a specific brand voice, tailored to match the distinct cadence and vocabulary of a company's messaging.

These unmet needs aren’t merely about technological gaps; they represent opportunities to revolutionize how we interact with technology. Creating libraries that offer seamless auto-correct, efficient document previews, and AI-assisted content refinement isn’t just about business potential; it’s about enabling smoother, more intuitive user experiences.

The call to action is clear: the tech community needs pioneers to step up and fill these voids. The landscape is ripe for innovation, with the promise of not just financial gains but also the satisfaction of empowering users with tools that redefine their digital interactions.

In conclusion, the absence of libraries catering to fundamental features like auto-correction, efficient document previews, and AI-driven content refinement is a glaring gap in today’s tech sphere.

Bridging these gaps not only holds the potential for substantial financial rewards but also promises to revolutionize user experiences across multiple platforms. The time is ripe for visionary innovators to embark on these journeys, reshaping the landscape of technological possibilities.

Cost-effective businesses set up for a big return

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