Palantir Technologies Inc. PLTR hosted its AIPCon 4 on Thursday. Palantir’s CEO Alex Karp has now also offered insights into the company’s AI work, defense spending, and the potential impact of the 2024 election.
What Happened: In an interview with Yahoo at AIPCon, an exclusive customer conference where the data analytics firm showcased its AI software, Karp explained how Palantir’s AI work creates value for customers and investors.
He said Palantir’s large language model “is much more like a chemistry experiment.”
“The outgrowth of which is something that is useful when refined. And the refinement of that for your enterprise happens in what we call our ontology, which is where we impose the logic of your business on the large language model in the security and intellectual logic of your business,” he said
Karp criticized the hype around large language models, likening their enterprise use to “self-flagellation” due to high costs and low output. He highlighted Palantir's approach to managing these models to transform enterprises, cut costs, and improve efficiency.
Despite initial skepticism, he noted that various sectors, including construction, healthcare, and the military, are now successfully using these models to enhance operations and convert non-technical staff into technical experts.
“What does it mean for Palantir? It means we are sitting on the only thing that actually creates a quantifiable transformational value in an enterprise. Yes, it is not understood well, because everybody understands the problem incorrectly,” he stated.
Karp also discussed the 2024 election, stating that historically, the party in the White House has had little impact on Palantir. However, he noted a shift in the U.S. Department of Defense’s spending habits, saying, “The DOD wants to move quicker,” to stay ahead of adversaries.
He also highlighted the importance of strength and readiness, stating, “You want peace in the world? You have a lot of growth in America and you have really deadly weapon systems. And you tell your adversaries, ‘You know what? I just might use them. I’m not even gonna explain why I’ll use them. You start acting up, I will use them.'”
Subscribe to the Benzinga Tech Trends newsletter to get all the latest tech developments delivered to your inbox.
Why It Matters: Palantir’s first-quarter financial results also showed a 21% year-over-year increase in revenue to $634 million, beating the consensus estimate of $625.431 million. This growth was driven by a 40% year-over-year increase in U.S. commercial revenue, according to Benzinga Pro.
During the earnings call, Karp dismissed the notion of any competitors in the U.S. commercial and government markets, stating that potential rivals are merely trying to replicate Palantir's unique capabilities but are not on the same level as Palantir.
“In order to actually make AI work, you need an ontology. No one has an ontology,” he stated at the time. “You'd have to actually understand what is special about the software infrastructure of having the combination of Apollo, Foundry, and the ontology. And then you would have to build on top of it.”
Just days before the earnings call Karp’s comments made during a Capitol Hill forum created controversy. He made some controversial remarks, such as joking about using drones to strike his business rivals and suggesting that anti-Israel protesters be sent to North Korea.
Check out more of Benzinga’s Consumer Tech coverage by following this link.
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
