Palantir May See Strong Demand On Face Recognition Technology
Facial Recognition Technology (FRT) is one of the most controversial forms of technology that exist. The idea that governments can use technology to track faces seems, on the surface, like a deep invasion of privacy.
However, the technology can be incredibly useful at actually saving lives and stopping large scale attacks from coming. So the ethical problem that unfolds is around how we should value FRT as a means of making society more safe with the potential civil liberties violations that may come in.
That's where Palantir comes in.
BofA Analyst Mariana Perez Mora, who has a BUY rating on Palantir and a $13 Price Target noted that many governmental agencies are looking for help with FRT. Whether it's digital access or law enforcement, more governmental bodies are seeking help with implementing a successful FRT campaign for their tasks.
The problem, however, comes around how they can ensure the privacy of citizens is not violated while still trying to use this technology ethically.
The analyst wrote, "Foundry software offers granular access controls, oversight of data usage, and secure cross agency collaboration."
This cannot be understated in terms of how important it is in regards to the technology and philosophy behind Palantir. The company was created in response to 9/11 and one of it's core goals was to make sure governments could use big data pattern matching to stop future attacks while still being able to protect civil liberties. The company has repeatedly turned down to work on governmental tasks, like creating a database of Muslims, because the core of their mission is to make sure civil liberties are protected while still providing aid to governments.
As a result, the software was built with the focus in mind on how, for example, the CIA and FBI could communicate with each other even while not mixing the data each organization was supposed to see. This led to the granular controls around data empowering the user of the software while continuing to safeguard valuable data that certain users were not able to see.
This type of technology is incredibly difficult to create and execute especially in different use cases that utilize advanced technologies like FRT. Palantir is one of the only companies that can actually execute the technology needed to provide results while guaranteeing that there is no violation of civil liberties or privacy for citizens.
What made me excited to see this report is it reinforced my conviction around how the technology simply has more use cases then we can imagine. In the past 2 months, we've seen the technology be applied to climate change, trash reduction, supply chain and logistics, and now facial recognition.
Time will tell where else it can be implemented.
Here's a video I made onn this topic:
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