A Palantir executive criticized Large Language Models as having limited intelligence and making significant errors. The company reported its first billion-dollar quarter, largely driven by a $10 billion contract with the US Army. Executives emphasized the importance of deregulation and talent attraction in gaining an edge in the AI sector. The company's approach focuses on creating a logical digital model of organizations, contrasting with the performance of LLMs. Analysts had high expectations, and Palantir's revenue grew substantially year-over-year.
"LLMs, on their own, are at best a jagged intelligence divorced from even basic understanding," Ryan Taylor, the company's chief revenue officer and chief legal officer, told shareholders on the earnings call. "In one moment, they may appear to outperform humans in some problem-solving task, but in the next, they make catastrophic errors no human would ever make."
"By contrast, our ontology is pure understanding concretized in software. This is reality, not rhetoric," Taylor added, referring to a company approach to AI that is based on using logic and data to recreate a digital model of how an organization works.
Shyam Sankar, chief technology officer, told investors that the Trump administration's new AI Action Plan, which promotes the deregulation of AI, has taken "all the brakes off" and that industry customers are "really excited to get to work."
The company smashed analyst expectations and nearly doubled its commercial revenue in the US since last year's second quarter to $628 million, mostly thanks to a 10-year, $10 billion consolidated contract with the US Army.
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