Big data company Palantir ties up with IBM

Big data company Palantir ties up with IBM

According to reports, the U.S. big data company Palantir Technologies and IBM today announced that the two sides have entered into a partnership. Under the partnership, the reach of Palantir’s sales team will be greatly expanded, while IBM’s artificial intelligence (AI) software will be more readily available to non-technical customers.

Big data company Palantir ties up with IBM

The global partnership is the largest of its kind for Palantir Technologies. Under the partnership, IBM will gain access to tools to make its own AI software easier to use, and Palantir Technologies will have access to a sales team of 2,500 people, up from about 30 today. Palantir Technologies shares have more than tripled since going public on the New York Stock Exchange last September.

Big Data Company Palantir Ties Up With IBM, Expands Sales Team From 30 to 2,500
Big data company Palantir ties up with IBM

Rob Thomas, IBM’s senior vice president for software, cloud, and data, said reselling Palantir Technologies’ software, enhancing the data and artificial intelligence tools IBM provides and making them more accessible to more people, is a “natural “choice, and we will sell it to thousands of customers in 180 countries.”

Thomas also said Palantir Technologies’ software requires little to no coding, which makes it accessible to relatively low-tech employees. To expand IBM’s cloud and artificial intelligence business, it is expected that half of the revenue will need to come through partnerships like Palantir Technologies. Thomas said, “It’s a fundamental change for us.”

Thomas also said the partnership is expected to help increase the percentage of IBM customers using artificial intelligence from the current 20 percent to 80 percent.

Shyam Sankar, chief operating officer (COO) of Palantir Technologies, said the technology fit with IBM, and its reach is part of a long-term effort by Palantir Technologies to increase sales.

Sankar added, “This is the largest partnership we have ever announced and we look forward to many more.” Sankar also expects to triple the size of Palantir Technologies’ direct sales team to approximately 100 people this year. This is a significant expansion for a company that has prided itself on “not hiring a single salesperson.

Palantir Technologies will report its 2020 financial results on February 16.

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