J.D. Power has teamed up with Palantir, an American company that specializes in big data analytics. The collaboration is being hailed as a first of its kind as the two companies aim to develop generative artificial intelligence (AI) and predictive analytics solutions for the automotive industry.
“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, in a statement.
J.D. Power’s datasets (including incentives, retail sales, valuations, vehicle configuration, service and warranty, new and used inventory) will be integrated with Palantir’s Foundry and AIP platform to create analytics products that OEMs, dealers, insurers, and financing companies will be able to use. Several OEMs have already integrated the platform into their strategic planning processes.
“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 J.D. Power President and CEO Dave Habiger in a statement.
“As a result of our work with Palantir,” he added, “our clients are now able to create unique insights that were previously impossible.”
Some of the solutions that have already been developed using J.D. Power’s data on Palantir Foundry include Repair Analytics, Intelligent Alerts, EV Battery Health Analytics, and Digital Journey Optimization.
