Unprecedented AI Processing Capabilities to
Enable Faster and More Enhanced Decision-Making
Veritone® Inc. (NASDAQ: VERI), a leading provider of artificial
intelligence (AI) and cognitive solutions, today announced the
upcoming launch of a market-first update to its AI operating
system, aiWARE™, which will enable the platform to support
real-time AI processing. The aiWARE real-time framework is
scheduled to launch in April 2018 with natural language processing
(NLP) engines, and Veritone plans to expand its offering of
real-time enabled engines across the rest of the company’s 15-plus
cognitive categories, including transcription, sentiment, visual
moderation, translation, as well as object, face, and optical
character recognition, during 2018.
The groundbreaking aiWARE real-time framework will enable
companies and organizations to leverage data in seconds, optimizing
their workflows and compliance. In 2021, AI augmented services and
applications will generate $2.9 trillion in business value and
recover 6.2 billion hours of worker productivity, according to
Gartner, Inc.1
“As more customers deploy and expand their use of artificial
intelligence, we are increasingly seeing use cases where the speed
of cognition is equally as important as accuracy and cost,” said
Hong Bui, senior vice president and chief product officer at
Veritone. “As a result of this upgrade, we’re now able to deliver
transcription results within seconds, with best-in-class accuracy
and pricing, and we believe that sub-second results will be
possible in some other cognitive classes. The applications of
aiWARE are limited only by our customers’ imaginations, as we
continue to expand the real-time cognitive capabilities of
aiWARE.”
“With this update to aiWARE, Veritone continues to show
companies that AI is an accessible and powerful business tool,”
said Ryan Steelberg, president of Veritone. “In the media and
entertainment space, we believe that this new capability will help
meet the needs of broadcasters who must adhere to FCC mandates for
pre-recorded, live, and near-live programming, as well as enable
faster and more cost-effective captioning.”
Veritone’s open and extensible platform already offers the
flexibility to be deployed in both cloud and hybrid on-premise and
cloud environments and to utilize a variety of intelligently
orchestrated cognitive engines and applications: native, private,
and public. This update to aiWARE will enable the platform to
cognitively process data to produce accurate results with near-zero
latency, addressing real-world requirements for speed and
efficiency across a wide range of industries, including compliance,
public safety, and surveillance.
“Real-time AI will be transformational in how we manage safety
and even prevent crimes, said Mike James, executive director at the
Integrated Law and Justice Agency of Orange County (ILJAOC). “If AI
can help us make a decision in a matter of seconds, we will have a
powerful tool to help prevent worst-case-scenarios. For example,
surveillance cameras near a school could capture faces and license
plates of persons approaching the school, and recognition engines
could match them in real-time against a database of potential
offenders deemed at risk to be school shooters. In the event of a
match, the system could flag the instance and trigger the school to
initiate a physical lock of external doors within seconds, while
simultaneously alerting on-site security and police of the
threat.”
For more information on the future of real-time cognitive
processing, please visit Veritone at ISC West 2018 in the
Quantum booth 22125 and at NAB Show 2018 in the AWS booth
SU2022 in South Upper Hall, NetApp booth S111LMR South Lower Hall,
Quantum booth SL8511 South Lower Hall or visit Veritone.
About Veritone
Veritone (NASDAQ: VERI) is a leading artificial intelligence
company that has developed aiWARE, an AWS-certified platform
offering orchestrated cognitive computing to transform and analyze
structured and unstructured data for clients in a variety of
markets, including media and entertainment, legal, compliance and
government. The open platform integrates an ecosystem of cognitive
engines, which can be orchestrated together, and a suite of
proprietary applications, to reveal unprecedented, multivariate
insights from linear files such as radio and TV broadcasts,
surveillance footage as well as public and private content
globally. Veritone is the presenting sponsor of the Artificial
Intelligence Marketplace at CES and has been recognized by Oracle
for Excellence in Application Development. To learn more, visit
Veritone.com and interact with us on Twitter and LinkedIn.
Safe Harbor Statement
This news release contains forward-looking statements, including
without limitation statements regarding the expected launch of the
aiWARE real-time framework for transcription and the timing of the
launch of real-time capabilities for other cognitive classes, the
business value and worker productivity gains projected to be
delivered in 2021 by AI augmented services and applications, the
potential speed and capabilities of the updated aiWARE platform,
the expected benefits for customers, and the potential ability of
real-time AI technology to help prevent some future crimes. Without
limiting the generality of the foregoing, words such as “may,”
“will,” “expect,” “believe,” “anticipate,” “intend,” “could,”
“estimate” or “continue” or the negative or other variations
thereof or comparable terminology are intended to identify
forward-looking statements. In addition, any statements that refer
to expectations, projections or other characterizations of future
events or circumstances are forward-looking statements. Assumptions
relating to the foregoing involve judgments and risks with respect
to various matters which are difficult or impossible to predict
accurately and many of which are beyond the control of Veritone.
Although Veritone believes that the assumptions underlying the
forward-looking statements are reasonable, any of the assumptions
could prove inaccurate and, therefore, there can be no assurance
that the results contemplated in forward-looking statements will be
realized. In light of the significant uncertainties inherent in the
forward-looking information included herein, the inclusion of such
information should not be regarded as a representation by Veritone
or any other person that their objectives or plans will be
achieved. Veritone undertakes no obligation to revise the
forward-looking statements contained herein to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
1 Gartner. Predicts 2018: AI and the Future of Work. Helen
Poitevin, Svetlana Sicular, John-David Lovelock, Mike Rollings,
Whit Andrews, Craig Roth, and Robert Hetu. 28 November 2017.
Gartner Press Release. “Gartner Says By 2020, Artificial
Intelligence Will Create More Jobs Than It Eliminates.” 13 December
2017. https://www.gartner.com/newsroom/id/3837763 Gartner does not
endorse any vendor, product or service depicted in its research
publications, and does not advise technology users to select only
those vendors with the highest ratings or other designation.
Gartner research publications consist of the opinions of Gartner's
research organization and should not be construed as statements of
fact. Gartner disclaims all warranties, expressed or implied, with
respect to this research, including any warranties of
merchantability or fitness for a particular purpose.
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BLASTmedia for VeritoneMeghan Matheny, 317-806-1900
ext.115meghan_matheny@blastmedia.com
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