J.D. Power Teams with Palantir to Create Unique Solutions for the Automotive Industry

Rhea-AI Summary

J.D. Power collaborates with Palantir to develop AI and predictive analytics solutions for the automotive industry. The collaboration aims to integrate J.D. Power's automotive datasets with Palantir's Foundry and AIP platforms to create new analytics products. This collaboration will help automakers, dealers, insurers, and financing companies make more strategic decisions and gain deeper insights. The combined capabilities will also facilitate collaboration between automakers and industry regulators.

Positive

• J.D. Power and Palantir collaboration will transform the auto industry's performance analysis and go-to-market strategy optimization.
• Automotive industry customers can rapidly develop new AI-driven solutions using trusted datasets.
• The collaboration will facilitate collaboration between automakers and industry regulators.
• Several auto manufacturers have already integrated the platform into their strategic planning processes.

Negative

• None.

First-of-its-Kind Collaboration Integrates J.D. Power Proprietary Datasets with Palantir’s Foundry and Artificial Intelligence Platform (AIP) to Create New Analytics Products; Automotive OEMs will also be able to Confidently Combine Their Data with J.D. Power Data to Develop Deeper Insights

TROY, Mich. & DENVER--(BUSINESS WIRE)-- In an industry-first collaboration that is intended to transform the way automakers, dealers, insurers and financing companies leverage data-driven insights, J.D. Power, a data and analytics company that analyzes more than 20 million vehicle transactions per year and has collected billions of vehicle configuration and performance datapoints, today announced a collaboration with Palantir Technologies Inc., (NYSE: PLTR) (“Palantir”) to develop generative artificial intelligence (AI) and predictive analytics solutions that will facilitate deeper insights and more strategic decision making by the automotive industry.

J.D. Power will leverage Palantir Foundry and AIP to help integrate its industry-leading automotive datasets, including incentives, retail sales, valuations, vehicle configuration, service and warranty, new and used inventory, and automobile customer experience data to support the development of new analytics models and workflow solutions which will help address some of the auto industry’s toughest issues. These combined capabilities will also help facilitate collaboration between automakers and industry regulators as new technologies such as electrification and autonomous driving become more widely adopted.

“This breakthrough collaboration will fundamentally transform the way the auto industry analyzes its performance and optimizes its go-to-market strategy and product offerings by pairing the world’s most robust automotive databases with the most powerful analytics platforms,” said Dave Habiger, J.D. Power president and CEO. “As a result of our work with Palantir, our clients are now able to create unique insights that were previously impossible.”

Together, J.D. Power and Palantir are making it possible for auto industry customers, including OEMs, suppliers, dealers, financing companies and insurers, to rapidly scale the development of new AI-driven solutions drawing on the industry’s most trusted and authoritative datasets. Several auto manufacturers have already integrated the platform into their strategic planning processes.

Additional solutions already developed leveraging J.D. Power data on Palantir Foundry include the following:

• Repair Analytics: J.D. Power and Palantir have developed a repair analytics application that monitors warranty costs and automatically flags areas in need of further attention to give auto OEMs and dealers a proactive means of predicting and managing vehicle repair costs.

• Intelligent Alerts: The newly developed intelligent alert system tracks vehicle-specific sales activity, competitive dynamics and macroeconomic trends, allowing OEMs, dealers and financing companies to optimize their incentive strategies based on real-time, hyperlocal data.

• EV Battery Health Analytics: A new electric vehicle (EV) battery health monitoring application analyzes battery health in large fleets and delivers insights and data that can be used for quality and performance improvement management.

• Digital Journey Optimization: A data hub that combines auto OEM customer engagement data with J.D. Power pricing and satisfaction insights enabling auto OEMs and dealers to target shoppers and owners in the optimal channel with a personalized message.

“The automotive industry is at a critical inflection point as AI and other forces continue to transform the industry,” said Alexander Karp, Co-Founder and CEO of Palantir. “J.D. Power sets itself apart as a pioneer in data-driven intelligence and delivering lasting value for its customers.”

See the online press release at http://www.jdpower.com/pr-id/2023108.

About J.D. Power

J.D. Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world's leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies.

J.D. Power has offices in North America, Europe and Asia Pacific. To learn more about the company’s business offerings, visit JDPower.com/business. The J.D. Power auto shopping tool can be found at JDPower.com.

About Palantir Technologies Inc.

Foundational software of tomorrow. Delivered today. Additional information is available at https://www.palantir.com.

About J.D. Power and Advertising/Promotional Rules: www.jdpower.com/business/about-us/press-release-info

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir’s expectations regarding the amount and the terms of the contract and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the frequency or severity of any software and implementation errors; our platforms’ reliability; and our customer’s ability to modify or terminate the contract. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230725914779/en/

Media Relations Contacts

Geno Effler, J.D. Power; West Coast; 714-621-6224; media.relations@jdpa.com

Lisa Gordon, Palantir; media@palantir.com

Source: J.D. Power

FAQ

What is the collaboration between J.D. Power and Palantir about?

The collaboration aims to develop AI and predictive analytics solutions for the automotive industry by integrating J.D. Power's automotive datasets with Palantir's Foundry and AIP platforms.

What are the benefits of the collaboration for the automotive industry?

The collaboration will help automakers, dealers, insurers, and financing companies make more strategic decisions and gain deeper insights. It will also facilitate collaboration between automakers and industry regulators.

What solutions have been developed using J.D. Power data on Palantir Foundry?

Some of the solutions developed include Repair Analytics, Intelligent Alerts, EV Battery Health Analytics, and Digital Journey Optimization.

What is the significance of this collaboration?

This collaboration will transform the way the auto industry analyzes its performance and optimizes its go-to-market strategy. It allows for the development of unique insights that were previously impossible.