Palantir Gains Rio Tinto As A Client For Foundry Platform

On Thursday, Palantir Technologies Inc. PLTR announced it had signed a multi-year enterprise agreement with Rio Tinto RIO, a mining and metals company, for use of its Foundry platform.

What Happened: As part of Rio Tinto’s move to digital operations, it will use Palantir’s Foundry platform to help its front line and office-based workers integrate data securely and easily in order to “make decisions and take actions using a single source of truth that combines operational and transactional data,” according to the report.

Why It Matters: Palantir recently debuted its Foundry and Gotham platforms at its demo day on Tuesday.

The Foundry platform “reimagines how people use data by removing the barriers between back-end data management and front-end data analysis” and will increase productivity by allowing simpler and quicker decision making in Rio Tinto’s operations “leading to improved results in safety, cost and production,” said Fay Cranmer, Rio Tinto’s chief information officer.

Related Link: Palantir To Debut New Software, Apps At Inaugural Demo Day

What’s Next: Palantir already secured a $1.5 billion contract with the Trump administration for its Foundry and Gotham platforms to integrate data pertaining to COVID-19. On Palantir’s inaugural demo day, companies were able to see how the software works and decide if it's something that would benefit their operations. Rio Tinto thinks it will, and it's only a matter of time before more companies jump on board.

(Photo: Palantir)