New York, NY IMG HI 58° LO 56°
Home Palantir collaborates with a prominent Australian retailer

Palantir collaborates with a prominent Australian retailer

by Reporter - Feb 03 96 Views 0 Comment

Palantir joins a top Australian retailer. Palantir will be implemented in all 850+ Coles stores in Australia.

Coles Supermarkets Australia Pty Ltd (ASX: COL) ("Coles"), a leading Australian supermarket, retail, and consumer services chain, and Palantir Technologies Inc. (NYSE: PLTR) ("Palantir"), a leading provider of AI systems, announced today a three-year partnership to deliver a suite of workforce strategy and analytics tools. Palantir's platforms will provide Coles with an innovative method to drive operational excellence and enhance how the company designs, implements, and continuously improves its integrated supply chain functions and end-to-end workforce strategy. 

Throughout its store operations, Coles will implement Palantir platforms, including the Artificial Intelligence Platform (AIP), to better comprehend and address workforce-related expenditures. By integrating data into a single system, Coles will establish a connection between the C-Suite and the shelf-edge in its over 840 supermarkets. Coles intends to facilitate workforce optimisation decision-making through improved shift efficiency, workforce planning, and a more detailed understanding of expenditures about enhancing the customer experience. Above all, the ability of store and department managers to make instantaneous decisions to optimise expenses and enhance the experience of both customers and team members is crucial.

"We have formed a partnership with Palantir to investigate potential opportunities for operationalizing our Advanced Analytics 'Smarter Forecast' and redefining our approach to the workforce, by a more comprehensive data strategy. We are ecstatic about the capacity that the Foundry platform grants us to rapidly provide our front-line teams with a suite of AI-powered tools, in addition to dashboards. This will enable them to respond more nimbly to shifting customer demands and trading conditions, according to Matt Swindles, chief operating and sustainability officer. "Our collaborative efforts in development with Palantir have illustrated how we can improve our capacity to guarantee that every department is adequately resourced, thereby generating superior in-store customer outcomes and maximising the return on workforce investment." "Most notably, we are just getting started, as evidenced by the comprehensive schedule of projects that we aim to complete in the coming years through our Simplify & Save to Invest initiative."

The suite of workforce tools, which is configured on Palantir, will analyse 10 billion rows of data every day to identify opportunities. This data includes each store, team member, shift, and allocation. Foundry enables these functionalities by integrating machine learning and legacy data systems into a unified end-to-end view of Coles' retail ecosystem, including Bakery Production Planning tools for in-store bakeries and Ocado fulfilment centres.

Ashwin Rajan, Head of Commercial for Australia at Palantir, stated, "Our partnership with Coles – an iconic Australian retailer – demonstrates the strength of our Australian commercial business and continues our growth in the retail industry globally." 

"Our partnership demonstrates how Palantir can be an indispensable component of Coles's core operations." We intend to enable Matt and the Operations teams to drive their digital transformation agenda at scale in a challenging retail environment, empowering front-line teams to leverage the most recent advancements in AI and data to deliver daily improvements in customer and P&L outcomes. 

Palantir, which has a long history of assisting some of the world's most prestigious organisations in resolving their most complex challenges, is currently collaborating with several leading retailers. 

Coles Supermarkets Australia Pty Ltd.

As the preeminent retailer in Australia, Coles operates more than 1,800 stores throughout the country. 

Coles facilitates the lives of Australians through the provision of service, value, and quality. Each week, we facilitate over 20 million customer transactions and distribute products from thousands of farmers and suppliers to our clientele.

Future-looking statements 

As defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, this press release contains forward-looking statements. These statements may pertain to but are not restricted to, Palantir's anticipated benefits from our software platforms and its expectations concerning the contract's value and terms. Some risks and uncertainties inherent to forward-looking statements are beyond the ability to predict or quantify. Forward-looking statements are predicated on information that was accessible at the time they were generated. They reflect the beliefs and assumptions of management at that moment in addition to current expectations regarding future events. Many of the risks and uncertainties associated with these statements are attributable to circumstances or factors beyond our control. Our ability to meet the specific requirements of our clientele; the performance or non-performance of our platforms as intended; the occurrence or gravity of software and implementation errors; the dependability of our platforms; and the ability of our client to modify or terminate the agreement are among these risks and uncertainties. Periodically submitted documents with the Securities and Exchange Commission contain supplementary information and additional risks and uncertainties. We are not obligated to publicly update or revise any forward-looking statement, whether in light of new information, future developments, or otherwise, except as required by law.

0 Comments found

Leave a Comment

Your email address will not be published. Required fields are marked *