In the technology world, Palantir is known as "the most mysterious unicorn in Silicon Valley", and its core business is to integrate some seemingly unrelated information together, such as through the cross-integration of data such as monitoring screens, bank statements, mail exchanges, personal travel, traffic tickets, medical records, fingerprint information, etc., through data correlation analysis and mining, the abnormalities are found, and then the system gives early warning to prevent problems before they occur, and it has achieved remarkable results in business fields such as anti-terrorism intelligence analysis and financial fraud identification. To paraphrase our customers, Palantir doesn't just analyze the past, it predicts the future. In the big data space, Palantir is the most popular company, with a market capitalization of nearly $240 billion.

At present, China is in the era of rapid development of the digital economy, and as the first big data technology company to be listed on the A-share market, TRS is regarded as a big data company that is expected to become "Chinese version of Palantir". From the perspective of technology source and capability, product matrix, business model, and industry cultivation, the development of TRS and Palantir has many similarities.

Technology Sources and Capabilities

·Palantir   

Founded in 2003 at the height of the U.S. government's counterterrorism needs, Palantir started with project-driven services and was primarily served by the U.S. government. The company was founded to meet the needs of the U.S. government and intelligence agencies in counterterrorism. Founder Peter Thiel brought PayPal's fraud detection technology to Palantir, laying the foundation of Palantir's technology. The real ability that PayPal brings to Palantir is the ability to process and analyze multi-source heterogeneous data, that is, how to find correlations from a large pile of fragmented data, effectively analyze and give valuable information, and this technology is very suitable for intelligence analysis work. Listed on the New York Stock Exchange on September 30, 2020, Palantir has developed technical capabilities that cover the entire process of data governance, dynamic modeling, analysis and decision-making.

·TRS  

Founded in 1993, TRS is the pioneer of Chinese full-text search technology. The technology began with the research on news data retrieval technology carried out in the national "Seventh Five-Year Plan" project, and the project precipitation of the news data processing system in cooperation with the People's Daily in the major national technological transformation project, and the unstructured data search with natural language processing as the core has become the technical cornerstone of the company. After the company was listed on the GEM in 2011, it focused on technology research and development and product application in the three major fields of big data, artificial intelligence and data security, and accumulated a deep technical background. Its big data technical capabilities cover data collection, data storage, data governance, data analysis, and data services. Artificial intelligence technology capabilities cover large models, knowledge graphs, natural language processing (NLP), image audio and video analysis; Data security technical capabilities cover content security, big data security, Internet of Things security, and border security. The accumulation of these technical capabilities was initially derived from the major projects undertaken by the company in the government, public security, finance, media and other industries.

Product Matrix   

·Highly similar software product matrix

TRS and Palantir have demonstrated highly similar product matrices around the full chain technology of "Data Governance - Data Modeling - Data Analysis - Decision Support".

Both companies are committed to providing comprehensive solutions from the fundamental governance of data to advanced analytics and ultimately to high-level decision-making. As shown in the table above, they each offer a series of products covering similar areas and functions, with almost the same product layout. There is a significant overlap in the positioning, core functions and target user groups of these products, indicating that the two companies have similar understanding and pursuit in terms of market insight, technology accumulation and product innovation.

·TRS has a unique data advantage

In addition to the above-mentioned software product matrix, TRS has a unique advantage in its own high-quality data. Since 2010, TRS has built its own data center, which has accumulated more than 300 billion pieces of high-quality data, and the average daily update volume is as high as 500 million, ensuring the high timeliness and activity of data. These data cover text, images, video, audio and other multimodal content, and are widely sourced from open and credible official channels at home and abroad, including news, social media, policies and regulations, etc. All publicly available information collected undergoes a rigorous cleansing, classification, and annotation process to transform into a structured, highly usable dataset. These high-quality data play an important role in supporting the pre-training of industry large models, improving data analysis and public opinion monitoring capabilities, and supporting the expansion and marketing of the company's five big data asset platforms. This unique data resource has undoubtedly built a solid competitive advantage for TRS in the field of data intelligence.

Business Model   

·Palantir："Products + Solutions + Consulting"

Palantir's core products, such as Gotham, Foundry, Apollo, and AIP, provide full-process support from data integration, analysis to visual display, covering the entire life cycle of users' data applications, and have the ability to provide targeted products and services according to the specific needs of customers. Its advantage lies in the high degree of product integration, which can meet the data analysis needs of complex scenarios.

According to its official website, Palantir's big data technology has formed more than a dozen solutions, covering anti-fraud, capital market analysis, defense, cybersecurity, healthcare, insurance analysis, intelligence analysis, behavior monitoring, case management, disaster prevention, crisis response and other fields, and has never given up business expansion.

Palantir's consulting services are designed for high-profile clients such as government, military, and large enterprises, who often need to handle complex data scenarios and highly customized solutions, from strategic planning to implementation. For example, in the government and military fields, Palantir's consulting team helps government agencies and military departments design intelligence analysis systems to optimize data applications in scenarios such as counterterrorism, cybersecurity, and operational decision-making. In the financial industry, Palantir's consulting services help clients build data solutions for risk management, fraud detection, investment analysis, and more.

·TRS："SaaS Service + Product + Solution + Consulting"

SaaS services: Relying on five big data asset platforms - Media Information, Public Opinion, Financial Technology, Open Source Intelligence, Global Insight, TRS provides users in different industries with data subscription services and data push services in different professional fields. Its advantage lies in lowering the threshold for users in different industries, improving the stickiness of existing users, expanding new users, and continuously realizing the value of data.

Products: TRS not only provides standardized basic products, but also provides industrialized application products. The advantage of the basic product is that it provides a fast digital and intelligent base for different customized solutions. The advantage of the application product is that it fully meets the business needs of professional users, and it is ready to use right out of the box. The above products support flexible customization and can quickly respond to user needs.

Solutions: For different industries, TRS provides customized solutions to help users achieve full-process support from data to insights. At present, dozens of solutions have been formed, such as illegal financial activity supervision, public opinion monitoring, cybercrime prevention, anti-terrorism, economic crime analysis, securities inspection analysis, open source intelligence analysis], etc. Its advantage lies in combining the characteristics of different industries, and providing users with services that meet various business needs on the basis of SaaS services + product customization.

Expert consulting services: TRS has a dedicated consulting team, mainly for solution users, providing whole-process consulting services from overall project planning to implementation, including: demand analysis and scenario design, data integration and cleaning, analysis model construction, user training and technical support. In the fields of defense, public opinion, and financial technology, TRS also provides users with reporting services and strategic advice. Its advantage lies in the combination of technology and consulting to help users achieve deeper value mining and further improve user stickiness.

To sum up, the business models of the two companies are basically the same, but they still reflect the different market positioning and development strategies of the two companies.

Based on its comprehensive product matrix and high customization capabilities, Palantir provides users with end-to-end solutions, and its end-to-end products have been widely used in government, finance, manufacturing, energy, aviation, medical and other industries, and have achieved significant business value. For example, in the commercial business, Palantir has reached landmark collaborations with several international and domestic customers to optimize their business processes through AI technology, resulting in cost savings and efficiency improvements. At the same time, Palantir's G-end customers also include military and intelligence agencies in multiple countries, showing excellent growth in government business. This broad customer recognition and significant business value further solidifies Palantir's leading position in the end-to-end product business model.

For a long time, based on the traditional business model of product + solution + consulting, TRS has the service ability of efficient integration and in-depth support, serving a large number of enterprise-level users, and then taking SaaS services as value-added services, which not only continuously strengthens the stickiness with enterprise-level users, but also meets the flexible needs of small and medium-sized enterprises.

The industry is deeply cultivated

·Palantir："Focus on the high-end market, global layout"

Palantir's industry coverage is mainly concentrated in high-end markets such as government, military, finance, healthcare, and energy. The global layout is relatively mature, and the service scenarios are rich, such as: government and military support for counter-terrorism, intelligence analysis, cyber security, etc., optimized risk management and investment decision-making in the financial field, drug research and development in the medical field, clinical trial data analysis, etc. Palantir's extensive client base spans more than 550 companies worldwide, including government agencies and multinational corporations, including the U.S. Department of Defense, the Central Intelligence Agency (CIA), JPMorgan Chase, Airbus, BP, Ferrari and many more.

·TRS："Multi-industry coverage, focusing on localized needs"

In the Chinese market, TRS covers a wider range of industries, including government, defense, finance, media, energy, public opinion and other fields, with rich service scenarios, such as illegal financial activity supervision, public opinion monitoring, new cybercrime prevention, anti-terrorism, economic crime analysis, securities inspection analysis, open source intelligence analysis, network security, financial risk control, consumer rights protection, financial media and user behavior insights and other solutions. TRS' customer base is large and authoritative, covering 80% of the central and State Council agencies, all provincial public security departments, five major state-owned banks, three major policy banks, 92% of joint-stock commercial banks, the China Securities Regulatory Commission, the China Banking and Insurance Regulatory Commission, the Shanghai Stock Exchange and the Shenzhen Stock Exchange, 400 local financial regulatory units, and 72% of the central news units, fully demonstrating its profound skills and extensive influence in meeting localized needs.

 Typical Cases   

Defense——

·Palantir   

As part of the CIA's collaborative project, Palantir mobilized data from multiple sources to find that a man had bought a plane ticket from Cairo to Miami in two days and had rented an apartment in Miami. Once there, he rented another truck, drove to Orlando, and went to Disneyland alone. On the way to Orlando, he also ate a speeding ticket. At this point, everything seems pretty normal. However, that speeding ticket betrayed him. The man's personal information was transmitted to Palantir, and it was found that he had withdrawn a sum of money from a Russian bank just two weeks ago, and had been in frequent contact with some people in Syria recently, and Disney surveillance footage showed that he did not play any projects at Disney, only taking pictures in crowded squares and entrances and exits. As a result, Palantir's software warned the C.I.A. that the man had been in contact with people in Syria who were also "red light" people in the database who had been meeting regularly for the past two weeks. At the same time, the system also found that the man's most recent remittances were also from Cairo and Syria. Based on these analyses, the CIA took immediate action to prevent a terrorist attack in advance. This private data comes from Palantir's customers – the CIA, FBI, the U.S. Army, Army and Air Force, the New York Police Department, and other government agencies.

·TRS 

TRS works with an organization to develop intelligence analysis projects that dig deeper and identify potential threats or sabotage, while providing users with early warning of potential actions. At the heart of the project is the integration of TRS' intelligent, global, open-source intelligence data with high-value, closed-source data from a wide range of heterogeneous sources, including but not limited to news reports, social media, images and videos. Through the  NLP platform, key information such as people, time, place, organization name and virtual identity in the text can be accurately extracted. In addition, the Zhiyan platform focuses on the processing of multimedia data such as pictures and videos, and uses deep learning algorithms to quickly and accurately identify faces, objects and other objects. In the process of feature extraction and relationship analysis, the project is based on semantic analysis technology to further refine human features, virtual identity features, temporal features, etc. Subsequently, with the help of relationship extraction engine and exploratory analysis, the exploratory data analysis capabilities of target discovery and target selection are enhanced, and the association between virtual identities and virtual organizations and real identities and organizations is effectively discovered and identified, and cross-comparison is carried out to realize the discovery of virtual communities and special nodes. Through the above-mentioned technical means, it helps intelligence analysts to assist in research and judgment, discover key targets, possible events and the correlation between organizations, and through intelligent collision comparison and correlation analysis such as real-time situation awareness, behavior analysis, and trajectory analysis of key personnel, it extracts valuable intelligence information from business information in a deep and multi-faceted manner, and realizes scientific deployment and intelligent decision-making of command operations.

Policing——

·Palantir   

The Los Angeles Police Department has partnered with Palantir to establish a real-time crime alert center. Palantir's data analytics system for the Los Angeles Police Department (LAPD) mined and analyzed a large amount of case information from the past, and was able to correlate seemingly impossible information to uncover important clues behind the scenes. For example, a police detective investigating a robbery can find the most suspect by simply entering a small amount of information about a suspect's name and body description into the system. The system will quickly provide the detective with the suspect's age, body description, address, gang, car and other information sorting options, and then the system can greatly narrow down the selection by matching known attributes, and arrive at the most suspicious results in a short period of time. Previously, it was difficult for detectives to find clues to solve the case based on a small amount of broken information. In addition to effectively improving the efficiency of case handling, the key to this system is to be able to make real-time crime warnings. A large number of surveillance cameras on the street transmit the picture data into the early warning system in real time, and the data of breaking news reports is also transmitted into the early warning system in real time. The system matches the surveillance camera footage with the backend database of facial features, plus the data of breaking news reports, and finally automatically predicts in real time the suspects who are most likely to commit crimes in that area. In addition, the system can predict potential criminal activity from hundreds of millions of anonymous chat messages on the Internet, and find out the important clues hidden behind the scenes.

·TRS   

TRS has successfully implemented the Public Security TRS-GPT LLM in a number of prefecture and city public security projects in a province, providing efficient solutions for intelligent policing and synthetic operations. The police only need to use voice or text dialogue mode to realize police inquiry, case inquiry, personnel and vehicle information inquiry, and law enforcement standard inquiry. For example, the system can further improve and enrich the intent answers according to the context through multiple rounds of dialogue with customers, and intelligently associate police details and AI instructions to inquire about police-related data questions and case-related data questions. At the same time, it provides police case situation analysis, and systematically integrates three-in-one police data, 110 police data, police comprehensive contradiction and dispute data, police comprehensive police information, police comprehensive criminal cases, police comprehensive administrative cases and other data sources, and through the prediction and analysis of the police situation situation, criminal behavior analysis, key personnel trajectory analysis and other multi-business library intelligent collision comparison and correlation analysis, in-depth and multi-faceted extraction of valuable intelligence information from business information, to achieve scientific deployment and intelligent decision-making of police forces.

Finance——

·Palantir   

As part of the "Risk Analytics &Portfolio Management" program with BlackRock, Palantir's technology is designed to help BlackRock achieve a number of important goals, including improving risk management, optimizing portfolio analysis, improving decision-making efficiency, and enhancing compliance monitoring. Through the Palantir platform, BlackRock is able to integrate data from multiple markets and multiple asset classes in real time to provide powerful support for risk modeling and risk assessment, including the identification of market risk, credit risk, liquidity risk, operational risk, and more. This comprehensive, real-time risk monitoring and analysis approach enables BlackRock to grasp the risk exposure of the portfolio in real time, so that it can react quickly and adjust its investment strategy in a timely manner when the market environment changes.

·TRS   

Affected by factors such as the international political and economic situation, changes in the financial market, fluctuations in commodity prices, the accumulation of economic vulnerabilities in emerging market countries, and the entry of domestic economic development into a new normal, the risk management and control of international business of a policy-oriented state-owned bank has been in a high-pressure situation. In cooperation with TRS to develop and build a comprehensive analysis system for international business credit management, the platform uses TRS's massive data at home and abroad to monitor all affiliated enterprises and assist in regional and industry monitoring. Focusing on 135 countries and 10,000 counterparties/investment projects, open-source public opinion data collection is carried out based on five major languages, including English, French, Spanish, Portuguese, and Russian. Integrate relevant dimensions such as finance and bulk market, shipping dynamics, national policies, industry changes, EIU country risks, credit balances, etc., build multi-dimensional monitoring of enterprise risk, project risk, market risk, credit risk, exchange rate risk, country risk, etc., identify global business risks in real time, comprehensively improve the level of bank IT support for international business, and help international business risk management and control and business development innovation.

Through the benchmarking analysis, it can be seen that TRS and Palantir have many similarities in terms of technical capabilities, product matrix, business models and industry development strategies. However, the market positioning and service models of the two have their own emphasis. Palantir is known for its strong data analysis and decision support capabilities in the global market, while TRS has demonstrated excellent potential and strength in the Chinese market.