Ripcord, the US robotics digitization company founded out of NASA research, has announced a strategic partnership with Palantir Technologies to convert trillions of paper records into actionable digital intelligence.

The partnership combines Ripcord's robotic digitization technology with Palantir's Artificial Intelligence Platform (AIP) to allow organizations can seamlessly turn their paper and digital documents into data that can be used to drive actionable insights, inform sharper decisions, and train AI models.

In the United States alone, there are over four trillion paper records, growing at 20% per year. These records contain a wealth of information that, if digitized and analyzed, can create significant business and societal impact. Yet, over 95% of these records remain undigitized, stored in static physical archives, rendering them and the information they contain virtually useless.

“There is a goldmine of data trapped in documents,” said Sam Fahmy, CEO of Ripcord. “Our partnership with Palantir will allow organizations to combine Ripcord’s robotic digitization with Palantir’s leading edge AIP to unlock the massive value inherent in their own records, leading to significant progress in business, government, and society."

According to the companies, over 95% of paper records remain undigitized due to outdated, manual processes that make large-scale conversion impractical and expensive. Ripcord's AI-powered robots aim to solve this by automating the preparation, digitization, classification, and data extraction from physical documents.

Palantir co-founder and CEO Alex Karp emphasized the potential impact: "By integrating Palantir's AIP with Ripcord's robotic digitization technology, we can empower organizations with an entire new layer of their own information to drive better decisions and more efficient operations."

The companies expect their "Records-to-Insights" framework to benefit multiple sectors including energy, financial services, healthcare, and government agencies.

https://www.ripcord.com/