Palantir Technologies reported strong Q3 earnings, with its stock rising over 16%. The AI company raised its full-year revenue guidance, citing high demand for AI services.
Snowflake's CEO criticised tech companies for not publishing AI hallucination rates, which can range from 1% to 30%. He emphasised that not knowing which part of an AI's answer is incorrect creates a trust problem, especially for critical applications. Snowflake's head of AI identified hallucinations as the biggest obstacle for generative AI use with external customers, suggesting improvements through guardrails and diverse data sources.
AI and data experts at a tech conference stressed the importance of unstructured data for AI development. They advised companies to focus on product-market fit and start with small, targeted AI applications to solve current problems. The experts likened the current generative AI stage to the 'Angry Birds era', with transformative applications expected soon.
