Palantir Technologies, an artificial intelligence (AI) and big data analytics startup established and run by African-American tech tycoon Alex Karp, has been awarded a two-year, $19 million contract by the Advanced Research Projects Agency for Health.
Palantir will employ its data management and AI expertise to support ARPA-H’s objective of improving health outcomes.
According to the deal, Palantir will use its Foundry software and Foundry Platform AI to build a strong data infrastructure for ARPA-H. This infrastructure will allow the agency to quickly collect, analyze, and interpret data from a variety of sources, facilitating a data-driven approach to research and program design.
“ARPA-H represents a tremendous investment in the next generation of life-changing healthcare results. “We are honored to provide our software to support their mission and deliver the latest commercial technology to transform their operations,” said Hirsh Jain, Head of Public Health and Senior Vice President of Federal at Palantir, emphasizing the company’s commitment to supporting health initiatives through continuous improvement and providing data infrastructure that improves business operations.
Historically, medical research has struggled with fragmented data sets and inadequate analytical capabilities. Palantir’s Foundry platform addresses these concerns by providing a safe and centralized platform for data integration and analysis.
Alex Karp, co-founder and CEO of Palantir Technologies, is well-known for his contributions to the technology industry and symbolizes African-American entrepreneurship.
Karp, ranked 1,200th on Forbes’ list of the world’s richest individuals, with an estimated net worth of $2.8 billion. His leadership has led to Palantir’s continued growth and strategic positioning.
Palantir has secured significant contracts with the US government under his leadership, including projects with the National COVID Cohort Collaborative (N3C), the Department of Health and Human Services (HHS), the Centers for Disease Control and Prevention (CDC), and the Food and Drug Administration (FDA).