J.D. Power teams with Palantir on AI systems for the auto industry
J.D. Power, which analyzes more than 20 million vehicle transactions per year and has collected billions of vehicle configuration and performance datapoints, is now collaborating with Palantir Technologies to develop generative artificial intelligence and predictive analytics systems.
These systems are designed to provide deeper insights and more strategic decision-making by the automotive industry.
J.D. Power said it will use Palantir Foundry and Palantir’s Artificial Intelligence Platform to help integrate its 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 and help address some of the auto industry’s toughest issues.
Those combined capabilities can 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,” J.D. Power president and CEO Dave Habiger said in a news release.
“As a result of our work with Palantir, our clients are now able to create unique insights that were previously impossible.”
J.D. Power and Palantir said several auto manufacturers have already integrated the platform into their strategic planning processes.
J.D. Power has previously developed several application using its data on Palantir Foundry. They include:
- 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.
- A newly developed intelligent alert system that tracks vehicle-specific sales activity, competitive dynamics and macroeconomic trends, allowing OEMs, dealers and finance companies to optimize their incentive strategies based on real-time, hyperlocal data.
- A new electric vehicle 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.
- 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,” Palantir co-founder and CEO Alexander Karp said. “J.D. Power sets itself apart as a pioneer in data-driven intelligence and delivering lasting value for its customers.”