SAN FRANCISCO, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Nixtla, a startup that makes it simple for any organization to perform time-series forecasting in seconds, today announced that it has been named to Fast Company’s fourth annual Next Big Things in Tech list in the AI and Data category, honoring emerging technology that has a profound impact for industries—from education and sustainability to robotics and artificial intelligence.
Nixtla is the first to do for time series models what LLMs have done for language – making them accessible to anyone. Any organization that wants to perform forecasting or anomaly detection can benefit from a foundation time series model, which is a way to use machine learning to predict future events and remove uncertainty from business decisions. Nixtla’s TimeGPT has made it simple for anyone to forecast using data they already have in Excel or other systems – such as sales, revenue and inventory data - without having to hire a team of engineers to develop custom models. Benchmark testing has found Nixtla’s foundation models to be more accurate and twice as fast as other options.
Earlier this year, Nixtla announced a partnership with Microsoft and integrated TimeGEN-1 to the Azure AI model catalog. Microsoft Azure, together with Nixtla, is the first cloud provider to offer a foundation model for this time-series.
Time-series forecasting is a powerful method that leverages time-stamped data to predict future events and remove uncertainty from business conditions – for example, to accurately predict sales, inventory levels and even manufacturing data. With TimeGPT, Nixtla makes time-series forecasting available to anyone with just three lines of code.
“It’s a tremendous honor to have our time-series innovations recognized by Fast Company as groundbreaking technology that will have a profound impact on businesses,” said Max Mergenthaler, Co-Founder and CEO of Nixtla. “Nixta’s users come from big companies and small, government agencies, nonprofits and academic institutions, and they can create insights and use data to make decisions in ways that were not possible before. Our team has worked hard to bring this technology to market and make time-series forecasting available to everyone.”
“The Next Big Things in Tech provides a fascinating glimpse at near- and long-term technological breakthroughs across a variety of sectors,” says Brendan Vaughan, editor-in-chief of Fast Company. “Spanning everything from semiconductors to agricultural gene editing, the companies featured in this year’s list are tackling some of the world’s most pressing and vexing problems.”
Click here to see the final list.
About Fast Company
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. The editor-in-chief is Brendan Vaughan. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication, Inc., and can be found online at fastcompany.com.
About Nixtla
Nixtla is the first to do for time series models what OpenAI has done for language models – making them accessible to anyone. Any organization that wants to perform forecasting or anomaly detection can benefit from a time series model, which is a way to use machine learning to predict future events and remove uncertainty from business decisions. Nixtla’s TimeGPT has made it simple for anyone to forecast using data they already have in Excel or other systems – such as sales, revenue and inventory data - without having to hire a team of engineers. Benchmark testing has found Nixtla to be more accurate and twice as fast as other options. Learn more and try for free at nixtla.io.
Media contact:
Michelle Faulkner
Big Swing
michelle@big-swing.com
617-510-6998
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ea440db9-c812-4bc5-99b2-58969717d0a4
