Spire Global to supply AI-Enhanced Weather Predictions to Financial Sector

Written by Copernical Team Wednesday, 01 May 2024 15:04

font size decrease font size increase font size
Print
Email

Write a comment

Los Angeles CA (SPX) Apr 30, 2024

Spire Global has finalized a significant agreement with a financial firm to deliver advanced weather forecasting solutions. The deal involves supplying a high-resolution weather forecast model with a six-day outlook, enhanced by unique data sourced from space, and the development of an AI-driven model for extended-range forecasts. The collaboration will extend Spire's recent partnership wi

Spire Global to supply AI-Enhanced Weather Predictions to Financial Sector
by Clarence Oxford
Los Angeles CA (SPX) Apr 30, 2024

Spire Global has finalized a significant agreement with a financial firm to deliver advanced weather forecasting solutions. The deal involves supplying a high-resolution weather forecast model with a six-day outlook, enhanced by unique data sourced from space, and the development of an AI-driven model for extended-range forecasts.

The collaboration will extend Spire's recent partnership with NVIDIA, utilizing the Earth-2 platform designed for weather and climate change modeling. This initiative will enable the training and operation of AI-driven weather models, expected to significantly enhance forecast accuracy and speed, and provide long-range probabilistic forecasts.

"Having spent my career in the field of weather, I'm amazed at the rapid pace by which we're seeing AI transform weather forecasting, especially when paired with proprietary data that can only be collected from space," said Michael Eilts, general manager of Weather and Climate at Spire. "As climate change causes more volatile and extreme weather patterns, our models are equipping financial firms with the crucial insights needed to anticipate weather's influence on price dynamics and market trends."

Spire's advanced satellite constellation employs radio occultation technology to collect detailed vertical profiles of temperature, pressure, and humidity worldwide, including in poorly observed and remote areas. This proprietary data is critical for initializing AI weather models, aiming to revolutionize forecast accuracy, speed, and reliability.

Spire offers a comprehensive range of Weather and Climate solutions, including its newly introduced High-Resolution Weather Forecasts, DeepVision, global weather forecasts, and exclusive datasets such as ocean winds and soil moisture, catering to diverse sectors such as energy, logistics, utilities, agriculture, and more.