IBM and Palantir join forces on 'low-code' AI data processing for enterprises

IBM and Palantir team up on a new enterprise offering to simplify how businesses build and deploy low code AI-based applications. (Pixabay)

IBM and Palantir have teamed up on a new enterprise offering designed to simplify how businesses build and deploy AI-based applications.

The partnership merges AI, via IBM Watson, operational technology, data processing, and hybrid cloud into a new offering called Palantir for IBM Cloud Pak for Data. The combined offering was designed to provide an easy to use "no-code/low-code" environment for building applications that use AI.

Palantir for IBM Cloud Pak for Data merges Big Blue's IBM Cloud Pak for Data services, which includes IBM Watson, with Palantir Foundry. Palantir Foundry is a data and analysis platform.

RELATED: IBM beefs up hybrid cloud software portfolio with automation and data

In November, IBM announced new automation and data capabilities to its hybrid cloud software portfolio. The new updates were across IBM Cloud Pak for Data and Cloud Pak for Automation, which offer integrated data and AI capabilities that run on Red Hat OpenShift. 

Palantir for IBM Cloud Pak for Data was designed to help businesses in retail, financial services, manufacturing, healthcare and telecommunications more easily use AI to make better informed business decisions and automate outcomes.

"Our clients deliver products and services while operating in some of the most complex, fast-changing industries of the world," said IBM's Rob Thomas, Senior Vice President, Cloud and Data Platform, in a statement. "Together, IBM and Palantir aim to make it easier than ever for businesses to put AI to work and become data-driven throughout their operations."

Built on Red Hat Open Shift, Palantir for IBM Cloud Pak for Data was designed to help businesses reduce data silos and integrate data sources across hybrid cloud. As part of Monday's news, Palantir is adopting Red Hat OpenShift, allowing it to run anywhere in the hybrid cloud.

"Palantir was founded to build software for the world's most critical institutions," said Palantir CEO Alex Karp, in a statement. "Our partnership with IBM combines our forces to put our joint solution into the hands of the institutions and people who need it most and will propel the world's most critical institutions into an unprecedented new digital age. We share IBM's commitment to the adoption of responsible and ethical AI."

Palantir's customer base includes companies with revenues in excess of $500 million, many of which are also IBM customers. The partnership also enables Palantir to ride on the coattails of IBM's global sales force. Palantir for IBM Cloud Pak for Data is slated for general availability next month.

Last year, Palantir Technologies announced it was moving its headquarters from Palo Alto, California to Denver. The pandemic led to several high profile tech companies exiting California as many employees started working from home. 

Buoyed by the IBM news, Palantir's shares were up by as much as 12% Monday morning while IBM saw a slight increase in its shares.