In a press release, the two companies stated that the collaboration would leverage J.D. Power’s data, which includes information from virtually every segment in the automotive industry, to develop artificial intelligence-powered analytics and workflow tools. The partnership is not only intended to help dealers face the challenges affecting their business but also to promote more synergy between OEMs and regulatory agencies.
Alexander Karp, Palantir co-founder and CEO, noted that the “automotive industry is at a critical inflection point as AI and other forces continue to transform the industry.” The two companies have previously partnered on other artificial intelligence solutions, including repair analytics software and an intelligent alert system helping dealers make sound financial decisions. J.D. Power president and CEO Dave Habiger also commented on the new alliance. “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,” he stated.
The partnership underscores the earnestness with which retail automotive is treating the artificial intelligence boom. On a daily basis, new technology products promising to transform the way the car business operates are launched, making it a headache for dealers to research and find the best tools for their storefronts. That being said, J.D. Power and Palantir make a formidable duo, given the research firm’s extensive automotive expertise and vast library of historical data. Whatever is announced from the partnership is likely to see success.