Myst AI
Myst AI offers a time series AI platform that enables data science teams to deploy expert forecasting solutions quickly and accurately, with a focus on the energy industry.
Myst AI Services
Myst AI provides premium services to build and maintain end-to-end forecasting solutions. These services aim to increase profitability and reduce risk. The company's deep expertise in the energy industry allows it to deliver highly accurate forecasts necessary for complex energy systems, including energy demand, renewable generation, and market prices. Furthermore, Myst AI engages closely with clients' leadership to understand their strategic goals and how forecasting can materially impact their businesses.
Myst AI Products
Myst AI offers the Myst Platform, a powerful solution purpose-built for time series forecasting. This platform enables rapid deployment of forecasting models, allowing data science teams to create expert solutions quickly. The Myst Platform integrates a wide range of third-party data sources, including weather, energy markets, and human behavior, to enhance forecasting accuracy. Additionally, it supports open source machine learning models like XGBoost, PyTorch, and Scikit-Learn, offering flexibility and efficiency in model building and deployment.
Myst AI and Snowflake Collaboration
Myst AI has partnered with Snowflake to enhance machine learning extensibility within the Snowflake Data Cloud. This collaboration aims to leverage Snowflake’s robust data infrastructure to accelerate the deployment of sophisticated forecasting models. The integration facilitates seamless data access, allowing users to harness the full potential of their data repositories for machine learning and time series forecasting purposes.
Funding and Investors
Myst AI secured a $6 million Series A financing round to continue advancing its time series forecasting AI platform. The company is supported by investors such as Gradient Ventures, Google's AI-focused venture fund, and Valo, which invests in innovative digital technology companies. This funding enables Myst AI to further develop its cutting-edge forecasting solutions and expand its impact within the energy sector and beyond.
Impact on Business Performance
Myst AI has demonstrated its capability to deliver significant business results for its clients. Notable achievements include a 3% EBITDA increase for load-serving entities, an 8% increase in free cash flow for renewable generators, and a 55% reduction in day-ahead energy demand forecast error for a global utility. These results underscore Myst AI’s effectiveness in enhancing profitability and reducing forecast errors within the energy industry.