MIT Startup TechNext Awarded Patent for Breakthrough Technology Forecasting System

Business Wire

a day ago

ARLINGTON, Va.--(BUSINESS WIRE)-- TechNext Inc., a Massachusetts Institute of Technology (MIT) startup, has been awarded U.S. Patent No. 12,099,572 B2 for its novel system that predicts improvement rates across the vast spectrum of definable technologies, from quantum computing to self-driving cars.
"R&D has become one of the fastest-growing expenses for companies, yet most decisions still rely on intuition rather than data. We have been flying blind"
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Lack Of Quantitative Tools Hinders Innovation
With global R&D spending exceeding $2 trillion annually, organizations struggle to allocate resources effectively, often wasting billions on technological dead ends. "R&D has become one of the fastest-growing expenses for companies, yet most decisions still rely on intuition rather than data. We have been flying blind," said Anuraag Singh, TechNext co-founder and co-inventor of the patented technology.
Singh, together with co-inventor and co-founder Prof. Christopher L. Magee (Professor Emeritus, MIT), identified the acute need for objective forecasting tools based on their experiences shaping technology strategy at global leaders such as Honda Japan and Ford.
Transforming R&D from Intuition to Intelligence
"Traditional forecasting methods can't keep pace with technological change," added Prof. Magee. "Our newly patented system for quantitative technology performance forecasting, provides the crucial missing piece: a rapid, data-driven, and systematic way to anticipate the future.' The system relies on large empirical datasets, patented algorithms to precisely define tens of thousands of technologies and to forecast improvement rates in their performance.
For example, consider Tesla founder Elon Musk's stance that the spinning LiDARs on Alphabet's Waymo are unlikely to be competitive with their exclusively camera-based perception system. The TechNext system can precisely forecast which of the two approaches is likely to perform better in the long-run and whether an alternative technology might outperform both.
TechNext helps organizations:
Anticipate and capitalize on disruptive technology opportunities
Identify acquisition targets years before competitors and avoid expensive dead ends
Create new revenue streams by identifying promising technologies early
TechNext's customers include the U.S. Air Force, leading Multi-national Corporations, the Massachusetts Technology Collaborative, think tanks, venture capital firms, and investment funds. TechNext's research is utilized by national laboratories and universities worldwide, with coverage in The Wall Street Journal, Financial Times, and Fast Company. For more information, visit www.technext.ai.