Denver, Colorado, September 20, 2022— According to the IDC report Worldwide Artificial Intelligence Platforms Software Market Shares, 2021: AI is Being Used in More Unique Ways Than Ever (doc #US49602222, September 2022), Palantir Technologies Inc. (NYSE: PLTR, “Palantir”), a leading developer of operating systems for the modern enterprise, today announced it was ranked the No. 1 Artificial Intelligence (AI) software platform in both 2021 market share and revenue.
IDC estimates that the market for AI platform software will grow by 36.8% in 2021 to reach a value of $14.2 billion. a glaring example of how AI has been incorporated and is now prevalent across all business applications. The study also discovered that early adopters who invested in AI over the previous three years reported 35% improvements in innovation and 33% improvements in sustainability.
The willingness of institutions to experiment and adapt using AI enabled platforms has been the driving force behind the increasingly widespread adoption of Palantir’s Foundry and Gotham services across some of the most significant organisations in the world.
“The importance of software suppliers that can consistently innovate and help their clients succeed is more than ever at a time when AI is having a significant impact on a range of industries. From a market share and revenue viewpoint, Palantir has clearly shown that it is the global leader in AI, and it is on a path to do so in the future “IDC Group Vice President for AI and Automation Ritu Jyoti stated. We anticipate that the AI industry will continue to grow rapidly, and we’re eager to see how Palantir can differentiate itself from the competition by using its platforms to address the most difficult business problems.
“The competition to develop the next generation of responsible and efficient AI is the biggest arms race of our time. The market we aspire to solve is virtually limitless, but most businesses are content with solving the unique demands and inefficiencies of a small number of customers in a small number of industries “explained Alex Karp, CEO and Co-Founder of Palantir. “The creation of our software does not just aim to linearly and directly amplify the results of human work. Instead, the goal of our software is to strengthen and emphasise the creative capacity of the human mind.”
By building a central operating system for corporate data, combining disparate data sources into a single analytics and operations picture, and enabling crucial data privacy and security controls, Palantir Foundry is intended to alter the way organisations function. The Foundry platform as a whole or individual modules, such as the Foundry Data Integration Suite, can be used to accomplish this.
More than 50 industries currently use Palantir’s software, which supports decision-making in some of the most challenging data environments everywhere. These industries include manufacturing, the health sciences, finance, and government.
Find out how Palantir’s AI-enabled platforms compare to the competition and how CEO Alex Karp sees the company’s recent expansion.
With regards to Palantir Technologies Inc.
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Future-Looking Remarks
In accordance with Sections 27A of the Securities Act of 1933, as amended, and Sections 21E of the Securities Exchange Act of 1934, as amended, this press release contains forward-looking statements. The expectations of Palantir on the anticipated advantages of our software platforms may be mentioned in these statements, but they are not limited to that. Those risks and uncertainties, some of which cannot be anticipated or quantified, are inherent to forward-looking statements. The information used to make forward-looking statements at the time they were made was based on current expectations, as well as the management’s views and assumptions at the time with regard to future events. These claims are subject to risks and uncertainties, many of which are caused by elements or events outside of our control. The capacity of our platforms to serve our customers’ specific needs; the frequency or severity of any software or implementation failures; the dependability of our platforms; and the flexibility of our customers’ contracts to be modified or terminated are some of these risks and uncertainties. The periodic filings we make with the Securities and Exchange Commission contain further information about these and other risks and uncertainties. We do not assume any obligation to publicly update or alter any forward-looking statement, whether as a result of new information, future developments, or other factors, unless doing so is mandated by law.