MindsDB turns a team of 1,000 developers into 1,000 AI developers with little to no training.
San Francisco, CA - May 10, 2023 - MindsDB, the most trending open-source applied machine learning platform in the world, today announced full integration with Nixtla, a fast-growing open-source ecosystem that offers state-of-the-art time-series forecasting.
Time-series forecasting refers to making scientific predictions based on historical, time-stamped data. It allows data scientists to employ models to predict a future value or classification at a particular point in time, such as forecasting power demand, call volumes, inventory requirements, or supply and demand.
Creating a Model
Nixtla is an open-source time-series data ecosystem model offering libraries specifically for time-series forecasting. One of the libraries, StatsForecast, which provides statistical and econometric models, will now function seamlessly within the MindsDB ecosystem. This integration will allow developers using MindsDB to build best-in-class AI-powered forecasting capabilities and anomaly detection solutions in the database without writing extensive code. MindsDB turns a team of 1,000 developers into 1,000 AI developers with little to no training.
Connecting the Data
Some advantages of the Nixtla integration include accurate model implementations, probabilistic forecasting and confidence intervals, support for exogenous variables and static covariates, anomaly detection and time series forecasting. Nixtla’s StatsForecast is optimized for high performance and scalability and uses classical methods, such as ARIMA, rather than deep learning models. This platform means models can be trained quickly and generalized well, making short-time series forecasting easier for developers.
“We have built a comprehensive open-source time series data ecosystem that the data science community loves,” said Nixtla CEO and Co-Founder Max Mergenthaler. “With the new MindsDB integration, our libraries will be available to a larger crowd of developers. We are pleased and proud of this alliance with such a great open-source company like MindsDB.”
MindsDB was built to dramatically speed up building accurate AI-powered applications. With more than 16,000 GitHub Stars, 500+ contributors and 100+ technology and data integrations, MindsDB has become the fastest-growing AI platform in the world. The MindsDB community continues contributing to hundreds of data-source, automated machine-learning framework integrations, with this latest integration adding to its pool of extensive capabilities.
This news comes just months after MindsDB announced integrations with Hugging Face and OpenAI, which allow anyone with a basic knowledge of SQL to bring state-of-the-art natural language processing (NLP) and generative AI models into their database. In February 2023, the company announced a $16.5 million Series A investment from Silicon Valley-based venture capital firm, Benchmark.
“This is cutting-edge data forecasting made simple,” said Jorge Torres, Co-Founder and CEO of MindsDB. “Bringing the power of state-of-the-art time-series modeling into a familiar developer environment unlocks a world of possibility for organizations that don’t have the time or resources to learn extensive code. This partnership with Nixtla is just the latest step in our ongoing mission to make AI development faster, simpler, and more accessible, boosting developers’ prediction capabilities through creating intelligent databases.”
For more information, see this blog post on this topic.
MindsDB enables developers to create the next wave of AI-centered applications that will transform the way we live and work. MindsDB was founded in 2017 by Adam Carrigan (COO) and Jorge Torres (CEO) and is backed with over $24M in total funding from Benchmark, Walden Catalyst Ventures, YCombinator, OpenOcean, the venture fund launched by the creators of MySQL and MariaDB, SpeedInvest, MMC and the University of California Berkeley SkyDeck fund. MindsDB is also recognized by Forbes as one of America's most promising AI companies (2021) and by Gartner as a Cool Vendor for Data and AI (2022). To see how MindsDB can help you visit www.mindsdb.com or follow us @MindsDB.
Nixtla is a time series research and deployment startup focused on creating a comprehensive open-source time series ecosystem for various use cases. Nixtla was founded in December 2021 by industry experts and researchers and has raised $6.2M in funding from True Ventures, GPV, Google Founders Fund, Techstars, and founders of companies such as HuggingFace, Lightning AI, and Nginx.