Veritone to Advance Federal Government Presence with FedRAMP Compliance Initiative
April 12 2018 - 10:07AM
Business Wire
Artificial Intelligence Leader Achieves FedRAMP
“In Process” Milestone
Veritone® Inc. (NASDAQ: VERI), a leading provider of artificial
intelligence (AI) and cognitive solutions, today announced that its
certification for the Federal Risk and Authorization Management
Program (FedRAMP) has achieved “in process” status. The company
expects to achieve full certification for its aiWARE™ platform of
cognitive engines, applications, and data products by the end of
2018, making it the first platform approved for federal agencies to
harness the power of AI to securely and accurately deliver
real-time insights and automation.
FedRAMP is a government-wide program that provides a
standardized approach to security assessment, authorization, and
monitoring for cloud-based products and services. Its certification
process includes an in-depth examination of a solution's data
security and data governance capabilities, as well as the security
practices of its services. To achieve “in process” status,
Veritone, under the supervision of the FedRAMP Program Management
Office, has undergone an extensive compliance program, including
security process implementation and extensive review and auditing
of its platform and processes by outside consultants. This status
allows Veritone to begin working with Federal government agencies
to help them leverage the power of AI in their operations.
A report released last year by Deloitte University Press
predicted that AI could save Federal government agencies up to 1.2
billion hours annually within the next five to seven years,
translating into $41.1 billion in potential cost savings and more
time for agencies to innovate and provide services.
“The exponential growth in the volume, variety, and velocity of
data within the federal space requires an ability to swiftly
understand and act on its value with AI,” said Ryan Steelberg,
president of Veritone. “Our initiative to achieve FedRAMP
certification exemplifies Veritone’s commitment to delivering our
commercially-proven AI platform to federal agencies.”
For more information on the future of AI for government, please
visit Veritone.com.
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 and 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 its expectation of
receiving full FedRAMP certification by the end of 2018, its
expectation of being the first AI platform to receive full FedRAMP
certification, the use of the Veritone aiWARE platform by Veritone
customers and the expected benefits, and the projected savings of
time and costs by Federal agencies by using AI. 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.
Certain of such judgments and risks are discussed in Veritone’s SEC
filings. 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.
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BLASTmedia for Veritone, Inc.Meghan Matheny, 317-806-1900 ext.
115meghan_matheny@Blastmedia.com
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