Veritone Awarded $1.3 Million of Subcontracts Under U.S. Air Force Program to Enhance Satellite Imagery Analysis
September 17 2020 - 8:00AM
Business Wire
Veritone aiWARE to provide artificial
intelligence technology and services to help the U.S. Air Force
increase speed and accuracy of overhead imagery analysis
Veritone, Inc. (Nasdaq: VERI), the creator of the world’s first
operating system for artificial intelligence, aiWARE™, today
announced that it has been awarded key subcontracts under a U.S.
Air Force project that will use Veritone’s aiWARE artificial
intelligence (AI) operating system to increase the speed and
accuracy of overhead imagery analysis.
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Veritone has been awarded $1.3 million of
subcontracts for software license and technology development
services in support of the Air Force’s innovation unit's (AFWERX)
Small Business Innovation Research (SBIR) program. (Graphic:
Business Wire)
AFWERX, the Air Force’s innovation unit, awarded a Phase II
contract under the Small Business Innovation Research (SBIR)
program to prime contractor alYnmnt. Veritone has been awarded
subcontracts for software license and technology development
services totaling $1.3 million in support of this program.
The Air Force Research Laboratory and AFWERX have partnered to
streamline the SBIR process in an attempt to speed up the
experience and broaden the pool of potential applicants.
“Veritone is thrilled and honored to be part of the team that
won this contract from one of the most respected and
technologically advanced U.S. government agencies,” said Chad
Steelberg, CEO of Veritone. “This is a further testament to the
power of our world-class AI Operating System, aiWARE, which
orchestrates a diverse ecosystem of machine learning models to
transform audio, video, text and other data sources into actionable
intelligence.”
Under the terms of the Phase II contract, alYnmnt will develop
software integrated with Veritone aiWARE to process overhead
imagery using the optimal combination of AI object detection
engines. The contract expectation is that aiWARE will significantly
increase the speed, accuracy, throughput and productivity of
imagery analysts by pre-processing intelligence imagery and video
with object detection engines.
“This is a massive win for Veritone aiWARE,” said Jon Gacek,
Head of Government, Legal and Compliance at Veritone. “We expect
the Phase II project to be a big success for our country and its
national security.”
About Veritone
Veritone (NASDAQ: VERI) is a leading global software and
solutions provider at the forefront of the artificial intelligence
(AI) revolution. The company’s proprietary operating system,
aiWARE™, the world’s first operating system for AI, democratizes AI
as well as orchestrates an expanding ecosystem of machine learning
models to transform audio, video, and other data sources into
actionable intelligence. Veritone is helping to solve systemic and
intractable problems in multiple sectors, including energy, media
& entertainment, government, legal & compliance and public
health & safety. Veritone is headquartered in Costa Mesa,
California, and has offices in Denver, London, New York and San
Diego. To learn more, visit veritone.com.
Safe Harbor Statement
This news release contains forward-looking statements, including
without limitation statements regarding Veritone’s subcontract
under the AFWERX SBIR program and the expected benefits of the
solution to end users. 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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version on businesswire.com: https://www.businesswire.com/news/home/20200917005168/en/
Allison Zullo Walker Sands, for Veritone
veritone@walkersands.com 312-241-1474
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