Coles Supermarkets will deploy Palantir platforms to all 850+ stores in Australia
DENVER & SYDNEY, February 01, 2024--(BUSINESS WIRE)--Palantir Technologies Inc. (NYSE: PLTR) ("Palantir"), a leading provider of AI systems, and Coles Supermarkets Australia Pty Ltd (ASX: COL) ("Coles"), one of the leading Australian supermarket, retail and consumer services chains, announced today a 3-year partnership to deliver a suite of workforce strategy and analytics tools. Palantir’s platforms will bring an innovative approach to driving operational excellence and improving the way Coles designs, executes and continually enhances its end-to-end workforce strategy and integrated supply chain functions.
Coles will leverage Palantir platforms, including the Artificial Intelligence Platform (AIP), across its store operations to better understand and address workforce-related spend. By integrating data into one system, Coles will connect its C-Suite to the shelf-edge in stores across its more than 840 supermarkets. Coles plans to support decision-making to optimise its workforce – including better workforce planning, shift efficiency, and a more granular understanding of spend as it relates to enhancing the experience for shoppers. Critically, Store and Department Managers will be able to make real-time decisions to optimise costs and improve both customer and team member experience.
"In line with a broader data strategy, we have partnered with Palantir to explore opportunities to operationalise our Advanced Analytics ‘Smarter Forecast’ and redefine how we think about our workforce. We are excited by the capability the Foundry platform brings to rapidly leverage beyond dashboards, and provide a suite of tools utilising AI to our front-line teams. This will allow them to respond more dynamically to ever-changing trading conditions and customer needs," said Matt Swindells, Chief Operating & Sustainability Officer. "Our development work with Palantir has demonstrated how we can enhance our ability to ensure all departments are optimally resourced – to provide not only the best return on workforce spend, but to drive better customer outcomes in-store. The most exciting part is that we are only just beginning – with a detailed roadmap of work to deliver over the coming years in line with our Simplify & Save to Invest program."
Configured on Palantir, the suite of workforce tools will identify opportunities over 10 billion rows of data, comprising each store, team member, shift and allocation across all intervals in a day, every day. Foundry enables these capabilities by bringing legacy data systems and machine learning into a shared end-to-end view of Coles’ retail ecosystem, including Bakery Production Planning tools for in-store bakeries and Ocado Fulfilment Centres.
"Our partnership with Coles – an iconic Australian retailer – demonstrates the strength of our Australian commercial business and continues our growth in the retail industry globally," said Ashwin Rajan, Head of Commercial for Australia at Palantir. "Our collaboration showcases how Palantir can be integral to core operations at Coles. In a challenging retail environment, we are intending to enable Matt and the Operations teams to drive their digital transformation agenda at scale, empowering front-line teams to leverage the latest in AI and data to deliver enhanced customer and P&L outcomes every day."
Palantir has a long history of helping some of the world's most important organizations solve their most complex problems and is working with several leading retailers across the globe. More on Palantir's retail offering can be found at https://www.palantir.com/offerings/retail/.
About Palantir Technologies Inc.
Foundational software of tomorrow. Delivered today. Additional information is available at https://www.palantir.com.
About Coles Supermarkets Australia Pty Ltd
Coles is a leading Australian retailer, with over 1,800 retail outlets nationally.
Coles makes life easier for Australians by delivering quality, value and service. We process more than 20 million customer transactions each week, providing our customers with products from thousands of farmers and suppliers.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir’s expectations regarding the amount and the terms of the contract and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the frequency or severity of any software and implementation errors; our platforms’ reliability; and our customer’s ability to modify or terminate the contract. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.
