Palantir Technologies, Inc. (NYSE:PLTR) shares have been on a tear since the company was added to the S&P 500 Index. The stock price followed a turn in the company’s fundamentals, and on Tuesday the data analytics company’s CTO said Shyam Sankar acknowledged that the company is experiencing rising demand.
Providing business value: “This is a unique moment for Palantir,” Sankar said in an interview with CNBC. The commercial sector is getting tailwinds, artificial intelligence adoption is increasing, and business automation is where the value and toolchain is, he said, adding: “It’s a success of the last decade.”
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The fundamental investments Palantir has made in an ontology are the prerequisites for these workflows to be quickly put into production, from a “charismatic prototype to actual business value”, according to the director.
As testimony he quoted one of the clients of Palantir, a very large American insurance company. The Alex KarpThe company-led company automated all insurance underwriting, reducing the time it took to complete the process from two days to three hours. Not only is time saved, which is the first-order benefit, but a customer can also reap the second-order benefit by differentiating themselves from the competition, he said, adding that this is a fundamental disruption of the market.
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Tackling biggies: On Palantir’s advantages over bigger rivals like Microsoft, IBM and Alphabet, all of which offer services to improve customer productivity, Sankar said all the value goes to companies that have built a tool chain that can get you to production quickly. “We spent the better part of a decade building just that,” he said.
“You want to solve the whole problem; you have to be able to solve the whole problem and provide the transparency and the certainty to the regulators… they have to say ‘yes, this model can be in production, this workflow can be AI-enabled,’ he added to.
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Sankar also took into account the cultural differences that forced them to take different approaches to AI. He noted that Europe looks like a “deer in the headlights” as they try to think through the problem. “If there is one thing about AI, it is fundamentally experiential; you can’t think through it,” he said.
“If you pay consultants to help you think about how to use it, you’re just setting money on fire. You have to roll up your sleeves and get started on implementing it and that is a unique strength of the US commercial markets.”
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The affordability of AI: When asked if AI has become more affordable, Sankar said it has become more effective. “You get what you pay for and people certainly consider us a premium product, but when you get results in weeks instead of years, it’s clearly worth it,” he said.
He also discussed the opportunities presented by worsening geopolitical tensions in the world. “We as America are in an undeclared state of emergency,” he said, pointing to the massacre in Israel a year ago, the war in Ukraine, Iran’s attack on US bases and the Chinese Communist Party’s operations in the South China Sea.
“These are not isolated events; There is an axis of authoritarians who have positioned themselves here to counter Western and American interests and we must rise to the occasion,” Palantir CTO said. “A big part of that is not only the work we’re doing with the military, which is enabling AI to stop change, drive deterrence to scare our enemies, but also to re-industrialize America,” he added. he added.
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Photo: Cory Doctorow Via Flickr.
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This article Palantir’s Shyam Sankar Says AI Is Experiential and If You Pay Consultants to Help You Think About Implementation, ‘You’re Just Setting Money on Fire’ originally appeared on Benzinga.com
