Palantir and Rio Tinto Renew Enterprise Contract and Extend Access to Palantir’s AI Platform
13 November 2024 - 11:45AM
Business Wire
Palantir Technologies Inc. (NYSE:PLTR) has renewed its
multi-year enterprise agreement with the Rio Tinto Group, one of
the world’s leading mining and metals groups (ASX:RIO). The
agreement extends the enterprise agreement for an additional 4
years and secures Rio Tinto’s ongoing access to the Palantir
Artificial intelligence Platform (“AIP”).
As an early adopter of Palantir Foundry (“Foundry”), Rio
Tinto has already primed its operational landscape for the
deployment of AI through the creation of a robust digital twin (or
“Ontology”). Via the Ontology, AIP will enable Rio Tinto to
build, test, and validate AI use cases at an accelerated pace and
deploy them to production safely.
These AI use cases will follow and augment critical operational
workflows Rio Tinto conducts in Foundry today. From managing plant
operations to monitoring geotechnical risk to coordinating dozens
of unmanned trains carrying iron ore, Foundry is enabling Rio Tinto
to make well-informed decisions and take appropriate actions based
on a single, unified source of truth.
“Foundry has helped to transform the parts of our business where
it has been applied. In our most high-stakes environments, we are
empowering our people to find better ways of working, to improve
how we operate our assets, increase performance and to innovate.
The Foundry Ontology has made our structured data accessible, and
AIP is doing the same for our unstructured data while enabling us
to attack with pace problems previously deemed too complex,” says
Bold Bataar, Rio Tinto’s Chief Commercial Officer.
For Network Specialists and Train Controllers in the RTIO
Operations Centre in Western Australia, Foundry provides a
comprehensive view of Rail operations, assembled from real-time
data from hundreds of equipment units and systems in the value
chain. With the Ontology providing a unified view of all assets,
Network Specialists coordinate the haulage of iron ore by 53
driverless trains, each with 240 wagons, across the Pilbara rail
network. They can optimise, collaborate on, and execute complex
routing decisions to balance production targets and maintenance
needs. As a result, both railway throughput and safety have been
improved.
In Mongolia, Foundry equips Rio Tinto with a dynamic
understanding of geotechnical risk at Oyu Tolgoi, one of the
world’s deepest and largest block cave mines. The mine’s
challenging conditions require advanced risk management and
constant surveillance to ensure safe production. The Ontology Rio
Tinto has configured in Foundry integrates data from thousands of
sensors across the mine and serves as a single source of
information for cave health, instrumentation and risk. This
represents a new paradigm for block cave mining and has enabled
various adjacent workflow innovations which will be further
expanded through Palantir AIP.
“We have high expectations for Rio Tinto’s utilisation of
Palantir’s AI Platform (AIP) based on what they have already
achieved with Foundry and their ambition for secure use of AI. The
Ontology created by Rio Tinto's team in Foundry over the past three
years enables fast deployment of AI solutions to some of Rio
Tinto’s most pressing challenges and ensures best and safe operator
practice in areas like risk identification, asset management, and
supply chain order and fulfilment processes,” says Ted Mabrey,
Palantir’s Head of Commercial.
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version on businesswire.com: https://www.businesswire.com/news/home/20241112799701/en/
Lisa Gordon media@palantir.com
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