"Palantir Is Pitching Ad Agencies On Its AI Technology" - MarketingBrew
Portfolio Pulse from Benzinga Newsdesk
Palantir is expanding its commercial business by pitching its AI platform, AIP, to advertising agencies for use in inventory planning, programmatic sales, and campaign optimization. Despite its controversial work with intelligence agencies, Palantir has secured clients like United Airlines, Tyson Foods, and more recently, Lowe's and General Mills for AIP. The company aims to differentiate itself in the ad industry, amidst growing interest in AI, while facing potential reputational risks due to its government work.
April 18, 2024 | 4:17 pm
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Palantir is actively pitching its AIP platform to ad agencies, aiming to grow its commercial business amidst slowing US government contract revenue. With clients like Lowe's and General Mills, Palantir seeks to stand out in the ad industry.
Palantir's strategic pivot towards the commercial sector, specifically advertising agencies, indicates a significant potential for revenue growth outside its traditional government contracts. The adoption of AIP by notable companies suggests market confidence in Palantir's technology, potentially boosting its stock in the short term. However, the company's controversial background and the industry's cautious stance on AI ethics may temper investor enthusiasm.
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