What is Foresight?
Foresight is Ferrovial’s open innovation platform created to explore and build the future of transport infrastructure and the mobility sector.
It’s a place for exchanging knowledge where our experts work with clients, startups, investors, and other forward-thinking parties to build a better future.
We’re immersed in an increasingly challenging environment where changes come one after another. The traditional strategies of looking to the past to extrapolate what the future holds no longer work to face the major social, economic, and environmental challenges ahead. As such, we’re convinced that long-term thinking is necessary. This sort of strategy offers guidelines for acting in the present and enables us to add value to the great transformations the future has in store.
One of the pillars is foreseeing and exploring what the future holds. This is essential for a company like Ferrovial, where the different business units and lines operate in huge, complex environments that are therefore uncertain.
Many companies assume that the future will be similar to the present. With this as their primary assumption, they organize long-term strategies using the past as a reference. However, working with conservative forecasts in such a context as fast-changing as the one we’re living in poses risks. The first of these is a lack of planning that doesn’t leave enough time to react.
Nowadays, having perspective on the future is more important than ever. After spending years on the Foresight approach, we want to share it publicly to open up a collaborative network and extend a hand to anyone who wants to make their plans for the future come true.
Foresight includes programs such as:
- What if…?: exercises where we try to intuit and understand plausible future circumstances in the coming years. This leaves us room for maneuvering and acting proactively in the present by trying out different strategies. It also increases our ability to face uncertainty and see the future flexibly.
- Innovation Insights: we pay close attention to market trends, new technologies and business models to collect information about our environment, which is constantly changing.
- Corporate Venturing: we accelerate our innovation process by collaborating with startups. This allows us to test breakthrough technologies and business models that, due to their high level of risk, are more difficult to develop within the limits of the company.
In short, Foresight helps us:
- Foresee and explore what is to come
- Generate insights about enviroment changes
- Identify and debvelop future opportunities
- Act proactively and make better decisions
- Attract the best talent to the ecosystem