Simply put, foresight is about bringing people with particular insights together to think about possible futures, and to create plausible futures, or scenarios of the future, in a structured and open way.
If you are looking for a more formal definition, foresight can be defined as:
a systematic, participatory, future-intelligence-gathering and medium-to-long-term vision-building process aimed at enabling present-day decisions and mobilizing joint actions
Source: European Foresight Platform
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