'Not A Q&A Bot:' Palantir CTO Says AI Platform Saved Construction Firm $10M As He Touts 'Operating System For Enterprise'

During the fourth quarter 2023 earnings call conference, Palantir Technologies Inc.'s (NYSE:PLTR) chief technology officer Shyam Sankar highlighted the significance of the company’s AI platform, stating that it is not just a Q&A bot or an agent framework but an AI-powered operating system for the enterprise.

What Happened: During the earnings call, Sankar spoke about the pivotal role of the AI platform, AIP, in driving the company’s growth through new customer acquisitions and expansions with existing customers. 

He also underscored the platform’s ability to meet customer expectations for software. “AIP is the AI-powered operating system for the enterprise, not a Q&A bot, not an agent framework, not a way to dabble, but a way to deliver.”

Sankar further illustrated the platform’s effectiveness by sharing a case where a construction, engineering and architecture company leveraged AIP to develop a production-ready use case, resulting in $10 million in savings.

See Also: What's Going On With Palantir Stock?

"At a recent two-day boot camp with the construction, engineering, and architecture company, our customer developed a production-ready use case that provided $10 million of savings," he said, adding, "They used AIP to build an AI-powered disruption manager application that processes production disruption notifications through AIP Logic to determine what the best new production plan would be."

According to the CTO, Palantir has identified nearly 200 use cases from all the boot camps, indicating the platform’s potential for value creation. He spoke about AIP’s ability to integrate various new data types, such as video conferences, incident response calls, and images, as a key driver of value creation.

Why It Matters: Palantir’s fourth-quarter earnings report showed a 20% increase in revenue to $608 million. The commercial revenue also saw a 32% growth, driven by a 70% increase in U.S. commercial revenue.

During the earnings call, Sankar also drew a parallel between Palantir’s current trajectory and Amazon.com Inc.’s AWS phase, stating that the company is “experiencing its own Amazon.com-to-AWS moment.” 

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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