DENVER, September 20, 2022–(BUSINESS WIRE)–Palantir Technologies Inc. (NYSE: PLTR, “Palantir”), a leading manufacturer of operating systems for the modern enterprise, today announced that it is ranked #1 artificial intelligence (AI) software platform in both market share and revenue in 2021, according to IDC report, Worldwide Artificial Intelligence Platforms Software Market Shares, 2021: AI is Being Used in More Unique Ways Than Ever (doc #US49602222, September 2022).
According to IDC, the AI platform software market grew by 36.8% in 2021, equating to a $14.2 billion industry. A clear indicator of how embedded and ubiquitous AI has become in all enterprise applications. The report also found that early adopters report a 35% improvement in innovation and 33% improvement in sustainability by investing in AI over the past three years.
The growing adoption of Palantir’s Foundry and Gotham offerings in some of the world’s largest organizations has been driven by institutions’ desire to innovate and adapt with AI platforms.
“At a time when AI is having a profound impact on various industries, software vendors who can continuously innovate and drive success for their customers are more important than ever. Palantir has demonstrated its clear leadership in AI at the scale both in a market from a share and revenue perspective and are on track to continue to do so,” said Ritu Jyoti, IDC Group Vice President, AI and Automation. the growth of the AI industry is far from slowing and we are excited to see how Palantir continues to stand out from the competition by solving the toughest business challenges with their platforms.”
“The most important arms race of our time is to build the next generation of AI that is both efficient and responsible. While most companies are content to address the idiosyncratic needs and inefficiencies of certain customers in a subset of industries, the market we seek to address is essentially limitless,” said Alex Karp, CEO and co-founder of Palantir. “Our software development is not intended to simply linearly amplify and direct production of human labor. Instead, our software aspires to augment and accentuate the productive power of the human mind.”
Palantir Foundry is designed to transform the way organizations operate by creating a central operating system for their data, integrating siled data sources into a common analytics and operations picture, while supporting privacy critical data and security protections. This can be achieved by implementing standalone modules such as the Foundry Data Integration Suite, or by implementing the entire Foundry Platform.
Palantir’s software is currently deployed in more than 50 industries and helps drive decisions in some of the world’s most complex data environments, including manufacturing, health sciences, finance and government.
Learn more about how Palantir’s AI-enabled platforms stack up against the competition and how CEO Alex Karp views the company’s growth over the past few years.
About Palantir Technologies Inc.
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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 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 such statements are made and were based on current expectations and management’s beliefs and assumptions at the time regarding future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customers; the inability of our platforms to satisfy our customer or perform as desired; the frequency or severity of software and implementation errors; the reliability of our platforms; and the ability of our customers to modify or terminate their contracts. Additional information regarding these and other risks and uncertainties is included in our filings from time to time with the Securities and Exchange Commission. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
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