Chung Ki-sun, chairman of HD Hyundai, met with Alex Karp, CEO of Palantir, at the World Economic Forum (Davos Forum) and agreed to expand the partnership between the two companies.
HD Hyundai said on the 21st that Chung met with Karp, founder and CEO of the global artificial intelligence (AI) corporations Palantir, on the 20th (local time), the second day of the Davos Forum. The Davos Forum, a five-day event that began on the 19th in Switzerland, is an international conference where political, business, and academic leaders from around the world gather to discuss global issues and seek solutions.
The two sides plan to expand the scope of cooperation across the group, including key affiliates such as HD Hyundai Electric, HD Hyundai Robotics, and HD Hyndai Marine Solution, and to further accelerate digital transformation. Reuters reported that Palantir and HD Hyundai are set to sign a software supply contract at the Davos Forum venue.
Since 2021, starting with HD Hyundai Oilbank, HD Hyundai has been introducing Palantir's big data solutions and its artificial intelligence platform (AIP) into core businesses such as shipbuilding and offshore, energy, and construction equipment to build a data-driven decision-making system.
HD Hyundai will jointly establish a Center of Excellence (CoE), an AI expert organization, with Palantir to systematically internalize employees' advanced data analytics and AI utilization capabilities.
Chung said, "This expansion of the strategic partnership is an important turning point to connect the group's data and workflows into a single system, leading to faster and more precise decision-making," adding, "Palantir, a partner with world-class AI-based analytics capabilities, will add execution power to the digital transformation pursued by HD Hyundai."
CEO Karp said, "HD Hyundai is a pioneer leading global industry," adding, "We look forward to further strengthening our strategic collaboration to bolster the competitiveness of the HD Hyundai group and create sustained value together."
Chung is attending the Davos Forum for the fourth time this year since 2023. Chung attended key sessions to discuss industrial transformation driven by AI, the roles of accessibility, resilience, and AI, and the potential for a global growth slowdown and responses amid geopolitical shifts. As in last year, Chung is also set to attend a meeting of the energy industry consultative body to exchange views on changes in the global energy market environment, the energy transition, energy security, and technological innovation.