Palantir, the big data company founded by Peter Thiel and Alexander Karp, is announcing today the launch of two new platforms for businesses and defense contractors called Artificial Intelligence Platform for Business – a.k.a AIP.
The news was shared alongside the release of the firm’s financial results covering the first quarter of 2023. Palantir stated that the solution relies on the power of their proprietary large language models (LLMs) and that it can help businesses overcome the current limitations of commercial AI models such as the one developed by OpenAI and other similar firms.
Palantir Claims AIP is the Best Way to Use AI on Private Datasets
According to the firm’s Q1 2023 shareholder’s letter, which was written by Palantir’s co-founder and CEO Karp, LLMs will “transform enterprise software”. However, what makes Palantir’s solution stand out from what others have released thus far is the years of experience they have in this particular field.
“We were fortunate in that we began building years ago the foundational architecture that will be required in order to meaningfully leverage the power of these new technologies within the context of privately held datasets”, Karp asserted.
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Karp deemed the level of demand that the solution is attracting as something “without precedent”. He said that the firm is getting its sales and organizational structure ready to meaningfully expand its reach.
In plain words, what AIP does is use a reliable, safe, and thoroughly designed AI model – the LLM – to create tailored solutions for businesses by using their private datasets. The “first iteration” of AIP will be made available to a handful of the firm’s customers as early as this month.
In the letter, Karp emphasized the vast superiority of what Palantir has to offer at the moment compared to the commercial versions of the LLMs that are available today. One of the areas where they claim to excel is privacy.
In this regard, the CEO of Palantir emphasized that this is something that his company “understood from the start” and this has resulted in the use of its software by the most sophisticated intelligence, defense, and law enforcement organizations in the world.
Palantir Plans to Take “The Whole” AI Market
During the earnings call that accompanied the release of these quarterly results, both Karp and Palantir’s Chief Operating Officer, Shyam Sankar, discussed further reasons why AIP could soon become a big player in the up-and-coming enterprise AI market.
“We are well ahead of the curve because we’ve built the frameworks, the infrastructure, and the software needed”, Sankar boldly stated during the call. In this regard, he emphasized that Palantir has already successfully solved some of the most complex issues of combining LLMs with large private datasets – a.k.a big data.
He even went on to call OpenAI’s earliest successes – namely GPT-2 and GPT-3 – as largely commoditized models that can be built by anyone “in a few days with a few hundreds of dollars”.
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“While some of the proprietary models hold a slight quality edge, the lead is vanishing quickly”, the tech executive commented.
He also shared a recent success case involving an insurance company where AIP was deployed in a matter of days. According to the client’s chief data officer, Palantir’s software was “years ahead” of anything he had seen.
Meanwhile, Karp highlighted earlier in the call that Palantir was getting ready to “take the whole market”, referring to the AI market. This is a bold statement but the company claims that they can get there at this point is that they have spent years building the infrastructure, algorithms, systems, and other key pieces of the puzzle that others don’t have yet.
“We know how hard just to build this. We believe that people will take years for people to build these things”, he concluded.
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