Because the Korean Hyundai allies itself with the American Palantir
At CES in Las Vegas, Hyundai and Palantir have signed an agreement to create a data management and analysis platform
Data analysis is confirmed as a strategic activity for companies of all sizes, even more so when we talk about multinational giants such as Hyundai, a Korean group known for producing vehicles but also active in shipbuilding, offshore engineering, industrial machinery and not least in the energy sector.
It is therefore not surprising that Hyundai Heavy Industries signed a memorandum with Palantir Technologies, the most important American big data analytics company in the world, on January 4th in the context of the CES underway in Las Vegas.
The agreement is a collaboration articulated on several steps, with the ultimate aim of creating a platform available to the Korean group and its affiliated companies that allows data to be analyzed and tracked. At a later stage, the two companies will set up a joint venture to promote the business of big data platforms in the medium and long term, generating sales destined for domestic and foreign companies. Financial terms have not been disclosed.
THE “INTELLIGENT” TRANSFORMATION OF HYUNDAI
The Korean group has decided to become “smarter” in the real sectors in which it is active thanks to the massive use of technology. Hyundai Heavy Industries Holdings, affiliated with the shipbuilding and offshore engineering group, is working on the “Future of Shipyard (FOS)” project that will make it a de facto intelligent shipyard by 2030, the first of its kind in the world. All processes, from design to production, will be connected in real time to manage work as efficiently as possible through the big data platform developed with Palantir Technologies.
Hyundai Oilbank Co., the energy subsidiary, will also adopt the new data platform. Palantir has already invested $ 20 million in the Daesan complex in South Korea with the goal of maximizing the efficiency of the refinery by integrating over 100 production systems into one. Hyundai Doosan Infracore Co., which manufactures industrial machinery, developed in 2019 with Palantir "DI 360", a data management platform that it is already using to manage its supply chain, quality control processes and new sales opportunities. .
PALANTIR BETS ON EMISSION CONTROL, HEALTH AND MOBILITY
Hyundai's choice of a partner like Palantir is the logical consequence of how a global group chooses an equal partner. Founded in 2003 and headquartered in Denver, Colorado, the American software company specializing in data analysis for intelligence purposes has been particularly active in creating deals that increase its value and profits.
The latest report talks about revenues of 418 million dollars, listed on the stock exchange in November 2020 saw the price of the stock grow by 165%, reaching a total value of 50 billion dollars at the end of 2021. Its instruments of " predictive management of public order "are still a key component for many institutions and, although the information has not found official confirmation, Palantir may have played a role in tracking the data that led to the killing of Osama bin Laden by the American armed forces.
Going forward, the company has pointed to monitoring global carbon emissions, cryptocurrencies and all digital assets as growth areas to look at. Equally important will be the field of health and that of mobility, therefore the crossing with Hyundai was only a matter of time.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/smartcity/hyundai-palantir/ on Wed, 05 Jan 2022 13:21:39 +0000.