Mindsdb

MindsDB is a cloud-based AI platform that simplifies the building and deployment of AI models for businesses, allowing them to analyze data without coding. The platform addresses the challenges of complexity and resource scarcity in AI implementation, targeting a growing market expected to reach $390 billion by 2025. With significant traction and a focus on partnerships, direct sales, and marketing, MindsDB aims to capture a substantial share of the AI market while navigating competition and technology risks.

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Mindsdb

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aakashsage

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Aakash Kulendren

Mindsdb to be the next big player in AI and machine learning

Introduction

MindsDB is a cloud-based AI platform that makes it easy for businesses to build and
deploy AI models. With MindsDB, businesses can quickly and easily analyze their
data to identify trends, patterns, and insights.

What do they do?

MindsDB is an AI platform that helps businesses build and deploy AI models.

MindsDB provides a graphical user interface that makes it easy for businesses to
create and train AI models without having to write any code. MindsDB also provides
a variety of pre-trained AI models that businesses can use to solve a variety of
problems.

What problem are they targeting?

A recent study has shown it takes 64% of companies a month up to over a year to
deploy a machine learning model into production.The problem that MindsDB is
targeting is the difficulty of building and deploying AI models. AI models are
becoming increasingly complex, and it is difficult for businesses to find the resources
to build and deploy them. MindsDB solves this problem by providing a platform that
makes it easy for businesses to build and deploy AI models without having to write
any code.

How does the world work now in relation to this problem?

Today, businesses that want to build and deploy AI models have to either hire
expensive data scientists or use complex and difficult-to-use AI platforms. This
makes it difficult for businesses of all sizes to take advantage of the power of AI.

How do they solve the problem?

MindsDB solves the problem of building and deploying AI models by providing a

platform that is easy to use and affordable. MindsDB's graphical user interface
makes it easy for businesses to create and train AI models without having to write
any code. MindsDB also provides a variety of pre-trained AI models that businesses
can use to solve a variety of problems.

How does solving the problem change behavior and make you money?

Solving the problem of building and deploying AI models changes behavior by

making it easier for businesses to take advantage of the power of AI. This leads to
businesses using AI to improve their operations, which in turn leads to increased
revenue and profits. MindsDB makes money by charging businesses a subscription
fee for access to its platform.
Aakash Kulendren
Mindsdb to be the next big player in AI and machine learning

What is the scale of the opportunity?

The market opportunity for MindsDB is large and growing. The global market for AI is
expected to reach $390 billion by 2025. MindsDB is well-positioned to capture a
significant share of this market. MindsDB can quickly establish a position as the
leading solution for developers out there wanting to use ML/AI to include fascinating
capabilities in their applications.

Traction/Metrics

 Traction: MindsDB has achieved significant traction in a short period of time.

The company has a growing customer base and has raised $24 million in
total.
 The open source platform has been downloaded more than 250,000 times
through Python pip installs or software with a graphic user interface and has
been used by 20,000 developers..
 Revenue drivers: $1.7M in 2022 revenue MindsDB's revenue drivers are
subscription fees and sales of add-on products and services. $0.70/hour
 Go-to-market: MindsDB's go-to-market strategy is focused on three key areas:
o Partnerships: MindsDB is partnering with leading technology
companies to bring its platform to market.
o Direct sales: MindsDB is also selling its platform directly to businesses.
o Marketing and advertising: MindsDB is investing in marketing and
advertising to raise awareness of its platform.

Challenges to Growth

 Competition: The MindsDB platform competes with offerings from major

public cloud providers like AWS SageMaker’s AutoPilot and Google’s AutoML.
However, MindsDB is different because of its focus on privacy and use in an
on-premises environment.
 Technology risk: The technology behind MindsDB is complex and there is a
risk that it may not be successful. MindsDB is mitigating this risk by investing
in research and development.
 Market risk: The market for AI is still in its early stages and there is a risk that
it may not be as large as expected. MindsDB is mitigating this risk by
conducting market research.

Market

 Customers: MindsDB's customers are businesses of all sizes that want to use
AI to improve their operations.
Aakash Kulendren
Mindsdb to be the next big player in AI and machine learning

 Thinking/Acting: MindsDB's customers are looking for an easy-to-use and

affordable way to build and deploy AI models.
 Opportunity: The opportunity for MindsDB is large and growing. The global
market for AI is expected to reach $390 billion by 2025. MindsDB is well-
positioned to capture a significant share of this market.

Future States

 As MindsDB starts to win, the market will change. MindsDB's success will
lead to more businesses using AI to improve their operations.