Thomson Reuters: Whither Palantir Technologies
May 6, 2019
When I was working on a profile of Palantir Technologies for a client a couple of years ago, I came across a reference to Thomson Reuters’ use of Palantir Technologies smart system. News of the deal surfaced in a 2010 news release issued on Market Wired, but like many documents in the “new” approach to Web indexing, the content is a goner.
My memory isn’t what it used to be, but I recall that the application was called QA Studio. The idea obviously was to allow a person to ask a question using the “intuitive user interface” which the TR and Palantir team created to generate revenue magic. The goal was to swat the pesky FactSet and Bloomberg offerings as well as the legion of wanna-be analytics vendors chasing the Wall Street wizards.
Here’s a document form my files showing a bit of the PR lingo and the interface to the TR Palantir service:
I am not sure what happened to this product nor the relationship with the Palantir outfit.
I assume that TR wants more smart software, not just software which creates more work for the already overburdened MBAs planning the future of the economic world.
One of the DarkCyber researchers spotted this news release, which may suggest that TR is looking to the developer of OS/2 (once used by TR as I recall) for smart software: “IBM, Thomson Reuters Introduce Powerful New AI and Data Combination to Simplify How Financial Institutions Tackle Regulatory Compliance Challenges.”
The news release informed me that:
IBM and Thomson Reuters Regulatory Intelligence will now offer financial institutions access to a RegTech solution delivered from the IBM Cloud that features real-time financial services data from thousands of content sources. Backed by the power of AI and domain knowledge of Promontory Financial Group, the collaboration will enable risk and compliance professionals to keep pace with regulatory changes, manage risk and reduce the overall cost of compliance.
I learned:
Thomson Reuters and IBM have been collaborating on AI and data intelligence since 2015, bringing together expertise and technology to solve industry-specific problems in areas such as healthcare and data privacy. Today’s announcement represents another step forward in helping businesses combat their most pressing regulatory challenges.
The most interesting word in the news release is “holistic.” I haven’t encountered that since “synergy” became a thing. Here’s what the TR IBM news release offered:
Featuring an updated user experience to allow for increased engagement, IBM OpenPages with Watson 8.0 transforms the way risk and compliance professionals work. By providing a holistic view of risk and regulatory responsibilities, OpenPages helps compliance professionals actively participate in risk management as a part of their day-to-day activity. In addition to integrating Thomson Reuters Regulatory Intelligence, IBM OpenPages with Watson incorporates the expertise of Promontory Financial Group to help users of OpenPages create libraries of relevant regulatory requirements, map them to their internal framework and evaluate their impact to the business.
Yep, OpenPages. What is this? Well, it is Watson, but that doesn’t help me. Watson is more of a combo consulting-licensing thing. In this implementation, OpenPages reduces risk and makes “governance” better with AI and advanced analytics.
Analytics? That was the purpose of Palantir Technologies’ solution.
Let’s step back. What is the news release saying? These thoughts zoomed through my now confused brain:
- TR licensed Palantir’s system which delivers some of the most advanced analytics offered based on my understanding of the platform. Either TR can’t make Palantir do what TR wants to generate revenue or Palantir’s technology is falling below the TR standard for excellence.
- TR needs a partner which can generate commercial sales. IBM is supposed to be a sales powerhouse, but IBM’s financial performance has been dicey for years. Palantir, therefore, may be underperforming, and IBM’s approach is better. What?
- IBM’s Watson TR solution works better than IBM’s forays into medicine, enterprise search, cloud technology for certain government entities, and a handful of other market sectors. What?
To sum up, I am not sure which company is the winner in this TR IBM deal? One hypothesis is that both TR and IBM hope to pull a revenue bunny from the magic hat worn by ageing companies.
The unintentional cold shoulder to Palantir may not be a signal about that firm. But with IPO talk circulating in some circles, Palantir certainly wants outfits like TR to emit positive vibes.
Interesting stuff this analytics game. I suppose one must take a “holistic” view. Will there be “synergy” too?
Stephen E Arnold, May 6, 2018
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One Response to “Thomson Reuters: Whither Palantir Technologies”
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Mr. Arnold:
I’m a writer and activist who’s been looking at Palantir since the February 2011 Themis scandal, and wanted to see if you’d be willing to talk to me. Let me know.
Thanks,
Barrett Brown