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Palantir’s Proof Is In The Pudding

Colby_Larson
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Palantir FoundryCon U.S. February 2023

Having been invested in Palantir Technologies ($PLTR) since the beginning of 2021, I have heard over and over that the company’s software doesn’t work. And while there has been continuous coverage of Palantir by the likes of Amit Kukreja and CodeStrap on YouTube, it unfortunately hasn’t been enough for the public to understand the value of Palantir’s software yet. However, I believe this changed after Palantir’s recent FoundryCon February 2023. During the convention, leaders of Palantir and companies they have partnered with, effectively exemplified Foundry’s use cases throughout numerous sectors of the economy.

In this article, I summarize the main points each important speaker made during Palantir’s recent FoundryCon. After reading, you will understand the value of Palantir’s software and have proof that it works.

Speaker Summaries

1. Dr. Alexander Karp (CEO of Palantir)

Karp states that Palantir is among the best in the U.S. and is the only software of its kind offered in Europe. Elaborating upon this, he notes that Palantir’s Gotham software has played a key role in enabling Ukraine to continue to fight Russia. Karp progresses on to talking about Palantir Foundry’s use in helping facilitate vaccine distribution throughout the U.S. and U.K. He reinforces that Palantir thrives as a business in bad times, whereas other technology companies provide much less value and do worst. Karp acknowledges his mistake in not having a sales team for Palantir earlier. Returning to the discussion of Ukraine, Karp stresses the initial doubt the public had in Ukraine’s capability to fight Russia. Karp believes that because of Palantir’s disruptive technology, Ukraine will continue to have the upper hand over Russia. Karp connects Gotham’s use to enable Ukraine to make real-time war decisions to how Foundry enables businesses to make real-time business decisions.

2. Shyam Sankar (CTO of Palantir)

After a business uploads its data to a cloud provider of their choice, Palantir Foundry’s ontology can be utilized to model and make sense of that data. More specifically, Foundry’s ontology helps model the semantics, kinetics, and dynamics of a business. Semantics are the business’s tangible data that is made sense of by Foundry’s ontology. Kinetics are the business decisions and automation opportunities offered through Foundry’s ontology models. Dynamics are the simulations a business can run via Foundry’s ontology to predict the potential impacts of a future decision. Sankar advocates for businesses to migrate from using multiple third-party applications (CRM, ERP, MES, ML Models, Email, Excel, etc.) to instead running their data through Foundry’s ontology to make sense of it all in one place. Despite Sankar’s dream end goal, Foundry is compatible with third-party business applications and legacy systems to enable any business to begin using Foundry.

Sankar performs a live demonstration of Foundry being used to make sense of a trucking company’s data. The demo showed Foundry’s ontology displaying the semantics of the company, including each truck’s location, fuel consumption, driver rating, delivery history, maintenance history, etc. The kinetics of the business were displayed through a connected model of the business’s multiple third-party applications that contain all their data. By connecting all of the business’s applications, Foundry’s ontology was able to make sense of all of the business’s data in one place for insightful decision-making. Continuing with the example, Sankar highlights the ontology’s ability to identify an unusual relationship between worn engines and heavy loads within the business’s data. To fix this problem, a decision was made through Foundry’s ontology to process maintenance tickets for all trucks with worn engines and heavy loads.

3. Deborah Birx (Ambassador of Palantir)

During the onset of the COVID-19 pandemic, Palantir Foundry made sense of the U.S. hospital’s data to manage the distribution of medical resources around the country. Foundry’s ontology completely rearranged the supply chain, leading to greater efficiency and predictability of who would need medical resources when. As the pandemic progressed, Foundry’s ontology identified that southern states had higher COVID-19 cases compared to other states. As a solution to this, Foundry provided sufficient data and modeling to southern states convincing them to mask in indoor spaces and provide accessible testing. As time passed, the southern states saw their COVID-19 cases drop significantly.

4. Bernardo Rodriguez (CTO of JD Power)

JD Power is leveraging Foundry to make sense of their car data in order to make better business suggestions to car manufacturers and dealers. Rodriguez presents an example of Foundry making sense of their car data to help identify why more Chevrolet Silverados are selling than Ford F-150’s in Denver. The semantics provided by Foundry’s interface included both trucks’ average sale price, incentives used to sell, time it took to sell, inventory number, total sales, etc. OEM decisions are difficult to make due to there being over 42,924 ways to build a Chevrolet Silverado and 67,700 for a Ford F-150. Through the ontology’s kinetics, Foundry can automatically send data to notify Ford manufacturers that Ford F-150 sales are declining in Denver. Ford can then adjust what kind of car combinations they’re manufacturing to fit the preferences and needs of customers in different regions. With their vast amount of data, JD power is using Foundry to create a digital representation of the car market across all manufacturers and dealers.

5. John Birch (Senior Manager at PG&E) and Devon Yates (Principal Data Scientist at PG&E)

For two years, PG&E has utilized Foundry to better understand their data in hopes to reduce the number of wildfires fires caused by fallen power lines and damaged transformers. Foundry assisted PG&E in understanding which customers were affected by public safety power shut-offs (PSPS) each year. PG&E’s meteorology team overlay models every six hours onto Foundry’s ontology to accurately predict affected areas ahead of time and notify customers of potential PSPS. PG&E has also implemented a “fast trip” enhanced power safety setting (EPSS), which takes advantage of hot line tagging. Hot line tagging is normally used to instantly cut the power of a line if a worker touches a live wire during maintenance. However, PG&E has now automated Foundry to hot line tag whenever a power line falls. PG&E’s implementation of EPSS has proven to reduce spark emissions by 90%, which has led to less PSPS. Utilizing both PSPS and EPSS reduced PG&E’s acreage burnage by 99% and ignitions by 65% in 2022. Foundry also helped solve PG&E’s long lasting problem of trying to detect faulty transformers within their massive grid. 

6. Brian Hammond (CTO of Tampa General Hospital)

Tampa General Hospital utilizes Foundry to make sense of over 12 million pieces of data from their 100 systems each day to ultimately create next generation’s healthcare system. Hammond highlights Foundry’s ability to organize efficient schedules days in advance for Tampa General’s nursing staff. Foundry’s optimal schedule organization saved Tampa General more than $100,000 in overtime expenses. In preparation for Hurricane Ian, Tampa General had Foundry organize the schedules of their physician staff in under 24 hours. After the storm weathered, Tampa General tasked Foundry to organize patient placement for bedding in the post-anesthesia care unit (PACU). As a result, Tampa General saw a 28% reduction in patient hold times and an 83% reduction in time spent by a nurse managing patient placement. Tampa General is currently working on using Foundry to organize the staffing of their environmental services team, bringing a throughput model to their operations team, and creating a predictive sepsis model with included treatment pathways.

Conclusion

As a whole, I would highly recommend viewing Palantir’s FoundryCon February 2023 as it establishes full proof that their software works and can be used to help any business or allied government to the U.S.

The gold rush of our time has started.

Thank you for reading this article. If you would like to get in contact, be sure to email me at colbylarson00@gmail.com. Below are my various social media links where you may further interact as well.

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