Spotted: As the climate becomes more unpredictable, the importance of precise weather forecasting is more important than ever. Accurate forecasting plays a vital role in industries such as transportation, agriculture, management, and insurance. Benchmark Labs is one of those working to make weather forecasting much more accurate. 

Benchmark collects data from site-specific sensors and analyses it with its proprietary artificial intelligence (AI) software. The result is accurate forecasts tailored to its customers’ precise locations, instead of the regional or grid level. Company CEO and co-founder Carlos Gaitan says that, unlike traditional approaches, “Benchmark Labs offers location-specific environmental forecasts to high-value asset managers to increase … operational margins.” 

The company claims its platform offers an improvement in the accuracy of weather forecasts by as much as 85 per cent relative to the National Weather Service. This improved accuracy translates into better planning and reduced operational costs. 

Benchmark Labs is now serving customers around the world, and over the next year will be working with leaders in the renewable energy sphere to help them obtain more accurate weather forecasts at their installations. 

Climate change is leading to the creation of a wide variety of forecasting products. Benchmark joins other innovators spotted by Springwise in the archive, including a system that uses high-resolution imagery to forecast climate risk and a platform that focuses on helping financial services with climate risk.

Written By: Lisa Magloff