A variety of wind speed forecasting approaches are available to anticipate wind uncertainty, which is critical for estimating wind power output available for the grid. In recent years, there has been a lot of research done to determine wind speed using various mathematical methods and biologically inspired computing techniques to minimise prediction error. This paper provides an overview of recent and emerging wind forecasting breakthroughs, emphasising concepts and practical applications. Although wind energy cannot be dispatched, an effective forecasting approach of wind speed can assist power system operators in reducing the risk of electricity supply unreliability. This work provides a comparative assessment of several hybrid approaches for wind speed forecasting techniques, and various criteria for assessing their accuracy of prediction.