In this AWS re:Invent 2023 lightning talk, Azul Garza, CTO and co-founder of Nixtla, introduces TimeGPT, the first foundational model for time series forecasting. TimeGPT aims to revolutionize time series analysis by providing accurate predictions across various domains without additional training. Garza explains how TimeGPT works similarly to ChatGPT but is specifically designed for temporal data. The model has shown impressive results, outperforming solutions from major tech companies in terms of accuracy and efficiency. TimeGPT's ability to produce forecasts with minimal code and processing time makes it a game-changer for businesses dealing with time series data in fields such as finance, retail, and IoT.