[ad_1]
What happened
Actions of Palantir Technologies (NYSE: PLTR) appeared on Monday after the data analytics company announced a partnership with IBM (NYSE: IBM). As of 2:30 p.m. EST, Palantir’s share price was up more than 7% after rising 15.2% earlier today.
So what
Palantir will integrate its application building tools with IBM’s hybrid cloud platform. The collaboration aims to help businesses more easily create and implement artificial intelligence (AI) -based applications that can help them make better use of their data. Palantir and IBM plan to launch the product in March.
Palantir and IBM join forces to bring the power of AI to more organizations. Image source: Getty Images.
According to a recent survey sponsored by IBM, about three in four companies are already implementing AI in their operations or evaluating how to do so. Yet 37% of these companies noted that their limited AI capabilities are slowing their adoption of breakthrough technology. New solutions from Palantir and IBM are designed to meet this growing need for application development tools that can be used by customers with minimal programming knowledge.
“Our customers provide products and services while operating in some of the world’s most complex and rapidly changing industries,” Rob Thomas, senior vice president of IBM said in a press release. “Together, IBM and Palantir aim to make it easier than ever for businesses to implement AI and manage data throughout their operations.”
Now what
Palantir’s agreement with IBM follows its expanded partnership with BP (NYSE: BP). Palantir will help BP accelerate its digitization initiatives as it strives to achieve net zero emissions by 2050.
“We started this company to work on the toughest issues,” said Shyam Sankar, managing director of Palantir, in a press release announcing the deal. “Helping deliver energy more safely and efficiently, in a disrupted market, while supporting the transformation of a business of pb’s size and scale is exactly what we have built this platform. ”
With Palantir stepping up efforts to expand further into the private sector, investors should expect the data analyst to announce more partnerships in the weeks and months to come.
[ad_2]
Source link