Final hours! Save up to 55% OFF InvestingProCLAIM SALE

Pray.com enhances translation with Palantir AI tech

Published 12/18/2024, 07:04 AM
© Reuters
PLTR
-

DENVER - Pray.com, known as the leading app for daily prayer and faith-based content, has partnered with Palantir Technologies Inc . (NYSE: NASDAQ:PLTR), a $169 billion market cap company with impressive 81.1% gross profit margins, to enhance its product offerings through advanced artificial intelligence (AI) systems, particularly in the realm of language translation. According to InvestingPro data, Palantir's strong financial health score and 24.5% revenue growth highlight its position as a leader in the AI space. This collaboration is expected to significantly reduce the time and cost associated with translating content into multiple languages.

Utilizing Palantir's Ontology Software (ETR:SOWGn) Development Kit (OSDK), Pray.com has been able to automate the translation process, achieving a level of quality comparable to native language speakers. Palantir's OSDK allows for the integration of AI capabilities into existing technology stacks, which Pray.com has leveraged to improve its application.

As a result of this partnership, Pray.com has rolled out new product features in a matter of months, a process that would have typically taken nine months. The use of Palantir’s AI Platform (AIP) has reduced the translation time for thousands of hours of podcasts from days to minutes.

Ryan Beck, Founder and CTO of Pray.com, expressed satisfaction with the partnership, highlighting Palantir's reputation and expertise in AI. He noted that the collaboration has enabled Pray.com to transition to a post-AI tech stack, enhancing their global reach and content accessibility.

Palantir's specialized AI platform uses Large Language Models (LLMs) optimized for accessing a comprehensive and accurate internal knowledge base, which has proven to be an invaluable resource for Pray.com's clients. This technology has facilitated the creation of enterprise-ready AI systems at scale, cutting development time in half.

The partnership also supports ministries and nonprofits by providing a managed service for accurate content translation at a reduced cost. Pray.com's CEO Steve Gatena emphasized that by leveraging Palantir’s AIP, the company is able to uphold religious liberty on a global scale and make prayer more accessible.

Palantir's CEO, Alex Karp, expressed pride in supporting the Christian community and noted the significance of faith for individuals in protective services.

This information is based on a press release statement and includes forward-looking statements subject to risks and uncertainties. Palantir's future performance and the successful integration of its AI technologies into Pray.com's offerings may vary based on various factors. Currently trading near its 52-week high of $80.91, InvestingPro analysis suggests the stock is trading above its Fair Value, with 22 additional exclusive insights available to subscribers. For comprehensive analysis including valuation metrics and growth prospects, access the detailed Pro Research Report, part of InvestingPro's coverage of 1,400+ top US stocks.

In other recent news, Palantir Technologies has been active in several significant developments. The technology firm announced a partnership with Shield AI to advance autonomous flight capabilities, focusing on artificial intelligence for military operations. This collaboration involves sharing critical components of both companies' proprietary software to enhance modern warfare technologies.

Simultaneously, Palantir secured a $36.8 million contract with the U.S. Special Operations Command to enhance its technology solutions. This contract further solidifies Palantir's position as the primary software integrator for the USSOCOM's Mission Command System.

However, despite these positive developments, William Blair maintained an underperform rating on Palantir due to concerns over the company's revenue projections. Despite a revenue growth of 24.52% and gross profit margins of 81.1%, Palantir is projected to fall short of its $4.5 billion revenue target by over $700 million.

Lastly, Palantir has unveiled its first group of partners for its Warp Speed initiative aimed at advancing American manufacturing through artificial intelligence and technology. The cohort includes Anduril Industries, L3Harris, Panasonic (OTC:PCRFY) Energy of North America, and Shield AI. These are among the recent developments involving Palantir Technologies.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.