Big companies like Google, Microsoft, GE and Ford have experimented with using prediction markets (also known as information markets, decision markets, idea futures, event derivatives, or virtual markets) to help define their innovation strategies and, according to research, have done so with great success. And researchers have explored the potential of prediction markets in global warming and climate policy, US Intelligence Capabilities, biomedical research, and governance.

Billionaires like Elon Musk (who has a habit of making probabilistic predictions), Warren Buffet (nicknamed the Oracle of Omaha because he’s proven to be gifted at predicting how markets will evolve and which companies will succeed), and Bill Gates, all make accurate predictions frequently that analysts follow closely. It's worth noting here that Metaculus (a prediction engine website and a community dedicated to generating accurate predictions about future real-world events) built an interactive timeline that tracks all of Elon Musk’s predictions for the future. So far, the Metaculus community has been correct nine times and incorrect three times about predictions related to Musk, and another 13 predictions are yet to be determined.

How can companies help employees to become better at forecasting future events using prediction platforms for product innovation and corporate governance? How can companies leverage the data from predictive platforms in conjunction with other algorithmic platforms? How can employees benefit from improving their predictive skills. At Tech 2025, we've explored this topic at past events including, Impact: Forecasting the Future and Adapting to Accelerating Technological Changes and The Signals are Talking: Forecasting the Future with Amy Web. Turning employees into futurists is not difficult. It takes practice and asking right questions!