Streamlit provides a popular software tool that developers use to build interfaces for AI and data science applications. last March in a deal reportedly (TechCrunch) valued at $800 million. Previously, the company bought Streamlit Inc. Myst is the second AI startup that Snowflake has acquired in the past year. How Snowflake and Databricks evolve is something I’m going to give special attention. One of the most popular data platforms is Snowflake. Most enterprises are already using a cloud data platform, but many are evaluating whether a data migration might be needed in order to stay competitive. Choosing a data platform that can handle massive volumes of big data, high speeds, and reliability - not to mention the ease of use, is top of mind. Managing and storing that data has become a critical function for modern business operations.There's no hardware or software to select, install, configure, or manage, so it's ideal for organizations that don't want to dedicate resources for setup, maintenance, and support of in-house servers. Snowflake is built on top of the Amazon Web Services, Microsoft Azure, and Google cloud infrastructure.The Energy sector could also represent a rather significant segment of their top clients and customers. is going to help create a greener world, it appears Snowflake is going to be there and involved. The neural network’s estimate can then be compared with historical data about the event to measure its accuracy. A software team using its platform can have a new neural network estimate how a past business event unfolded. The startup’s platform also helps developers test the accuracy of new AI models before deploying them. Using that time-series data, customers can train the neural networks provided by Myst to perform tasks such as predicting changes in energy demand. Myst also provides connectors for collecting time-series data such as weather measurements. According to the startup, its platform offers more than half a dozen prepackaged neural networks. This feels like money well spent for Snowflake. Following the acquisition, Snowflake could potentially extend Myst’s platform to new use cases in additional markets. Props to Siliconangle as well.ĪI models are used to generate business forecasts not only in the energy sector but also other industries. VentureBeat and not TechCrunch have covered them. Myst offers an AI platform that provides data science teams with a workflow to build, deploy and maintain highly accurate forecasting models on time series data in minutes. The AI models used in the energy sector often use similar methods. A neural network built to forecast rainfall, for example, might analyze past precipitation measurements. The Montana-based company has been focusing on building machine learning extensibility into the platform, and with this deal, it has taken a step in this direction.Īs the Energy industry involves this is actually really key BigData, since as AI models generate forecasts by analyzing historical data about a phenomenon and estimating how it may change in the future. Okay Montana? What! Over the last year, Snowflake has worked aggressively to expand its data cloud. Myst AI is a developer of the AI-based data analysis platform intended for electricity demand and supply forecasting. Myst.AI had raised $8 million in funding according to Crunchbase. The startup’s platform also automates related tasks, such as the process of deploying neural networks in production. San Francisco-based Myst offers a platform that makes it easier to develop AI models capable of making business forecasts. Energy companies use AI models to predict electricity price fluctuations, changes in customer demand and other trends. When you think of BigTech companies becoming and driving ESG, this is a timely acquisition. Not many companies in the world can do this: Snowflake is incredible, even with a rout of Tech stocks in 2022, its market cap is still $40 Billion. Watching Snowflake and Databricks make acquisitions is super interesting to me. is acquiring Myst AI, a startup that offers an artificial intelligence development platform for companies in the energy sector. The stealthy rise of Time series forecasting and A.I. For the price of a cup of coffee, Join 140 other paying subscribers. I cannot continue to write without community support. at the intersection of breaking news join AiSupremacy here.
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