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  1. ABSTRACT Interpolative decompositions (ID) involve “natural bases” of row and column subsets, or skeletons, of a given matrix that approximately span its row and column spaces. Although finding optimal skeleton subsets is combinatorially hard, classical greedy pivoting algorithms with rank‐revealing properties like column‐pivoted QR (CPQR) often provide good heuristics in practice. To select skeletons efficiently for large matrices, randomized sketching is commonly leveraged as a preprocessing step to reduce the problem dimension while preserving essential information in the matrix. In addition to accelerating computations, randomization via sketching improves robustness against adversarial inputs while relaxing the rank‐revealing assumption on the pivoting scheme. This enables faster skeleton selection based on LU with partial pivoting (LUPP) as a reliable alternative to rank‐revealing pivoting methods like CPQR. However, while coupling sketching with LUPP provides an efficient solution for ID with a given rank, the lack of rank‐revealing properties of LUPP makes it challenging to adaptively determine a suitable rank without prior knowledge of the matrix spectrum. As a remedy, in this work, we introduce an adaptive randomized LUPP algorithm that approximates the desired rank via fast estimation of the residual error. The resulting algorithm is not only adaptive but also parallelizable, attaining much higher practical speed due to the lower communication requirements of LUPP over CPQR. The method has been implemented for both CPUs and GPUs, and the resulting software has been made publicly available. 
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