Myst AI

Myst AI has joined Snowflake to enhance machine learning extensibility within the Snowflake Data Cloud. The Myst Platform is designed for time series use cases, allowing teams to deploy forecasting models in minutes. It offers a time series AI platform that enables data science teams to deploy expert forecasting solutions faster, more reliably, and with higher accuracy. Myst AI provides premium services to build and maintain end-to-end forecasting solutions that increase profitability and reduce risk. The company has delivered significant business results for clients, including a 3% EBITDA increase for load serving entities, an 8% free cash flow increase for renewable generators, and a 55% reduction in day-ahead energy demand forecast error for a global utility. The Myst Platform features an expanding catalogue of third-party data sources, including weather, energy markets, and human behavior data. Myst AI has deep expertise in the energy industry, focusing on modern energy use cases involving variable renewables and distributed energy resources. The company secured a $6 million Series A financing round to continue developing its AI platform for time series forecasting in electricity, backed by investors such as Gradient Ventures and Valo. The Myst Platform allows teams to build, deploy, and maintain forecasting models with unprecedented speed and accuracy, integrating third-party data sources for comprehensive data access. It supports open source machine learning models like XGBoost, PyTorch, and Scikit-Learn. Myst AI specializes in forecasts necessary for the evolving energy system, including energy demand, renewable generation, and market prices. The company engages with clients’ leadership to understand strategic goals and explore how forecasts can have a meaningful impact. Myst AI’s service is powered by a proprietary platform that provides data from various third-party vendors and offers flexibility similar to open source modeling tools.