In an industry-first collaboration intended to transform the way automakers, dealers, insurers and financing companies leverage data-driven insights, J.D. Power on July 25 announced a collaboration with Palantir Technologies Inc. to develop generative artificial intelligence (AI) and predictive analytics solutions that will facilitate deeper insights and more strategic decision making by the automotive industry.
J.D. Power will leverage Palantir Foundry and AIP to help integrate its industry-leading 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 which will help address some of the auto industry’s toughest issues.
These combined capabilities will also 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,” said Dave Habiger, J.D. Power president and CEO. “As a result of our work with Palantir, our clients are now able to create unique insights that were previously impossible.”
Together, J.D. Power and Palantir are making it possible for auto industry customers, including OEMs, suppliers, dealers, financing companies and insurers, to rapidly scale the development of new AI-driven solutions drawing on the industry’s most trusted and authoritative datasets. Several auto manufacturers have already integrated the platform into their strategic planning processes.
Additional solutions already developed leveraging J.D. Power data on Palantir Foundry include the following:
Repair Analytics: J.D. Power and Palantir have developed 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.
Intelligent Alerts: The newly developed intelligent alert system tracks vehicle-specific sales activity, competitive dynamics and macroeconomic trends, allowing OEMs, dealers and financing companies to optimize their incentive strategies based on real-time, hyperlocal data.
EV Battery Health Analytics: A new electric vehicle (EV) 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.
Digital Journey Optimization: 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,” said Alexander Karp, co-founder and CEO of Palantir. “J.D. Power sets itself apart as a pioneer in data-driven intelligence and delivering lasting value for its customers.”
Source: J.D. Power
Abby Andrews