Friday, September 29, 2023

Snowflake Acquires Machine Learning Startup Myst AI

By ET Bureau - January 07, 2023 1 Mins Read


Snowflake Inc. has made an announcement that it is acquiring Myst AI, a startup that offers an Artificial Intelligence development platform for companies in the energy sector.

The transaction’s financial details have not been made public. To forecast changes in electricity prices, shifts in consumer demand, and other trends, energy companies use AI models. Myst, a company based in San Francisco, provides a platform that makes it simpler to create AI models that can make business forecasts.

Also Read: How AI and Blockchain Integration Benefits Businesses – EnterpriseTalk

The platform of the startup also automates related tasks, like the process of putting neural networks into use. The startup claims that its platform provides more than a dozen prepackaged neural networks.

Read More:Snowflake acquires machine learning startup Myst AI – SiliconANGLE

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