From Semafor, March 5:
New Palantir venture targets finance industry’s AI spending
The Scoop
Palantir Technologies is targeting the global financial services industry as the next big market for its artificial intelligence tools, joining the CEO of Guggenheim Partners and the former owner of Legendary Entertainment to persuade banks and asset managers to take a new, “holistic” approach to AI spending.The data analytics group founded by Peter Thiel announced a joint venture on Wednesday with TWG Global, which invests the fortunes of billionaires Mark Walter and Thomas Tull. The new initiative will “redefine AI deployment” across the industry, the partners said in a statement.
Their pitch is that financial institutions can tap Palantir’s technical expertise and TWG’s operational knowledge to take a more comprehensive approach to their use of AI, rather than buying separate products from multiple vendors.
Walter’s interests range from Guggenheim Securities to Chelsea Football Club and the Los Angeles Dodgers, while Tull, whose productions at Legendary included Jurassic Park and Batman Begins, has invested in the New York Yankees and Cadillac’s F1 team. The two men have been working together for the past couple of years, Tull told Semafor, and recently hired Drew Cukor, who led the Pentagon’s Project Maven AI program before joining JPMorgan Chase as the bank’s head of AI transformation....
....MUCH MORE
