Palantir’s Shyam Sankar says AI is experiential, and if you’re paying consultants to help you think about implementation, “you’re just lighting money on fire”

Palantir Technologies, Inc. (NYSE:PLTR) shares have been on a roll ever since the company was added to the S&P 500. The stock’s inflection followed an inflection in the company’s fundamentals, and on Tuesday the data analytics company’s CTO Shyam Sankar acknowledged that the company is experiencing an increase in demand.

Delivering business value: “This is a unique moment for Palantir,” Sankar said in an interview with CNBC. The commercial business is seeing tailwinds, the adoption rate of artificial intelligence is increasing, and enterprise automation is where the value and toolchain is, he said, adding, “It’s been a 10-year overnight success.”

Don’t miss:

The fundamental investments Palantir has made in an ontology are the prerequisites for rapidly bringing these workflows into production, from a “charismatic prototype to real business value,” the executive said.

He cited as testimony one of Palantir’s clients, a very large US insurance company. The Alex Karp-the managed company automated all insurance contracts, reducing the time required for the process from two days to three hours. It’s not just saving time, which is the first-order benefit, but a customer can get the second-order benefit of differentiating themselves from the competition, he said, adding that this is a fundamental market dislocation.

Trends: ‘Unrolling to UBI’: Deloitte’s #1 fastest growing software company lets users earn money on their phones – invest $1,000 today for just $0.25/share

Biggies takeover: On Palantir’s advantages over larger rivals such as Microsoft, IBM and Alphabet, which all offer productivity-enhancing services to clients, Sankar said all the value will go to companies that have built a toolchain that allows you to get to production fast. “We spent the better part of a decade building just that,” he said.

“You want to solve the whole problem; you have to be able to solve the whole problem and give the regulators the transparency, the assurance…..they have to say ‘yes, this model can be in production, this workflow can be enabled by artificial intelligence,'” he added he.

Trends: The global gaming market is expected to generate $272 billion by the end of the year – for $0.55/share, this VC-backed startup with a user base of over 7 million gives investors easy access to this asset market .

Sankar also weighed in on the cultural differences that forced them to take different approaches to AI. He noted that Europe looks like a “deer in the headlights” as they try to think about the problem. “If there is anything about AI, it is fundamentally experiential; you can’t think about her,” he said.

The story continues

“If you’re paying consultants to help you figure out how to implement it, you’re just lighting money on fire. You have to roll up your sleeves and get to work implementing it, and that’s a unique strength of the U.S. commercial markets.”

See also: This startup backed by Jeff Bezos will allow you to become an owner in just 10 minutes and you only need $100.

AI Accessibility: When asked if AI has become more accessible, Sankar said it has become more effective. “You get what you pay for and certainly people see us as a premium product, but when you get results in weeks instead of years, it’s clearly worth it,” he said.

He also looked at the opportunity presented by worsening geopolitical tensions around the world. “We’re like America in an undeclared state of emergency,” he said, pointing to the massacre in Israel a year ago, the war in Ukraine, Iran’s attack on American bases and the Chinese Communist Party’s operations in the South China Sea.

“These are not disconnected events; there is an axis of authoritarians who have aligned themselves to counter Western and American interests here, and we must rise to the occasion,” said Palantir CTO. “A big part of that is not just the work we’re doing with the military that enables AI to disrupt change, to drive deterrence to scare our enemies, but also to reindustrialize America,” he added.

Read on:

Photo: Cory Doctorow Via Flickr.

UNLOCKED: 5 NEW TRANSLATIONS PER WEEK. Click now to get top trading ideas dailyplus unlimited access to state-of-the-art tools and strategies to gain an edge in the markets.

Get the latest stock analysis from Benzinga?

This article Palantir’s Shyam Sankar says AI is experiential, and if you’re paying consultants to help you think about implementation, “You’re just lighting money on fire” originally appeared on Benzinga.com