Setting up a machine learning model on data has become significantly easier with the integration of MindsDB and SingleStore. By leveraging an additional predictive layer on top of their database, developers can automate model training while utilizing existing datasets, saving time and cost. The process involves setting up a SingleStore account, creating a cluster, importing a dataset into the database, and connecting it to MindsDB to run predictions and queries using simple SQL. This integration enables users to make real-time predictions, such as predicting average BMI of a male smoker, and provides valuable insights from their data, making it an attractive solution for developers looking to leverage machine learning capabilities without extensive coding knowledge.