Key Points:
- Power management leader Eaton expands partnership with Palantir to integrate AI platform across operations, aiming
- This partnership aims to streamline data management, modernize ERP systems, and unlock value creation across Eaton’s global business.
- Eaton’s backlog surged 31% year-over-year in Q1 2024, reflecting strong performance under Craig Arnold.
Intelligent power management company Eaton Corporation, led by one of America’s Black executives Craig Arnold, has announced an expansion of its partnership with Palantir Technologies, a leading firm in artificial intelligence (AI) and big data analytics, founded by tech billionaire Alex Karp.
This enhanced collaboration signifies Eaton’s commitment to leveraging AI for improved efficiency and optimized supply chain management. Under Arnold’s leadership, Eaton will integrate Palantir’s Artificial Intelligence Platform (AIP) into its intelligent power management operations.
The partnership aims to modernize and expedite the deployment of Eaton’s Enterprise Resource Planning (ERP) system, accelerating value creation across its global operations. Palantir’s AI capabilities will support a systematic approach to transforming ideas into practical solutions and streamlining data management and processes.
Eaton expands AI partnership with Palantir
Eaton already utilizes AI-powered data mapping, cleansing, and migration automation. This expanded partnership builds on previous successful collaborations, where AI assisted the supply chain team in addressing material shortages and ensuring smooth production. The new phase paves the way for a more comprehensive AI integration.
Ross Schalmo, Eaton’s chief data officer, emphasized the tangible benefits of this partnership: “While many talk about the promise of generative AI, Eaton and Palantir are building something real in the heart of our operations. We view these AI-enabled applications as strategic differentiators that will greatly accelerate productivity and, more importantly, improve our ability to deliver value for our customers.”
Eaton backlog grows 31% under Craig Arnold
Under Craig Arnold’s leadership since June 2016, Eaton has achieved significant financial milestones. The company’s backlog, representing unfilled customer orders, surged 31 percent year-over-year in Q1 2024, indicating sustained customer demand and offering revenue visibility for upcoming quarters.
In addition to his executive role, Arnold holds a 0.13 percent minority stake in Eaton Corporation, equivalent to 514,998 ordinary shares valued at over $170 million. This ownership underscores his personal commitment to Eaton’s continued success.
Eaton’s deepened partnership with Palantir represents a significant step forward in the adoption of AI within industrial operations. This collaboration is set to revolutionize how data is managed and utilized, ultimately leading to greater efficiency, productivity, and customer satisfaction.
