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Veritone Continues to Innovate and Make AI More Accessible, Deploying Generative AI Across Its Leading aiWARE Platform
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Veritone, Inc. (NASDAQ: VERI) has launched Veritone Generative AI, a new enterprise-grade Platform-as-a-Service (PaaS) that integrates public large language models like GPT-3 and ChatGPT alongside domain-specific models. This solution empowers organizations to transform data into custom content and predictive AI-generated material, enhancing engagement and revenue opportunities.
The platform is particularly relevant in industries such as talent acquisition, sports, advertising, and law enforcement, aiming to improve efficiency and reduce costs. Additionally, Veritone plans to expand its capabilities to support image and video generation models by Q2 2023.
Positive
Launch of Veritone Generative AI enhances content creation and engagement.
Integration of public and domain-specific language models broadens application potential.
Focus on talent acquisition market valued at $761B in 2023 opens new revenue streams.
Increased automation and efficiency across multiple industries.
Plans to support image and video generation models by Q2 2023.
Negative
None.
Enhanced offering from proven enterprise AI technology leader provides immediate native support for both large-language and domain-specific models
DENVER--(BUSINESS WIRE)--
Veritone, Inc. (NASDAQ: VERI), creator of aiWARE™, and the leader in enterprise AI software and services, today introduces Veritone Generative AI, an enterprise-grade Platform-as-a-Service (PaaS) that natively supports and orchestrates public large language models — such as GPT-3 and ChatGPT — as well as domain-specific large language models.
Veritone's aiWARE platform now includes generative AI capabilities. Veritone Generative AI natively supports and orchestrates public large language models — such as GPT-3 and ChatGPT — as well as domain-specific large language models. (Graphic: Business Wire)
With this major advancement, Veritone is empowering enterprises to create and extend content and data at an unprecedented scale beyond the power of human capabilities. Veritone Generative AI enables organizations with large amounts of data and content to easily turn their assets into custom, domain-specific large language models and knowledge graphs, and orchestrate these proprietary models with public large language models. This provides extensive opportunities to enable new, predictive AI-generated content for greater audience engagement, enhancing human experiences and communications and introducing new revenue opportunities.
“We are excited to see the business community and individuals start to adopt and appreciate the magnitude of generative AI,” said Ryan Steelberg, president and chief executive officer, Veritone. “Veritone is leading the enterprise charge in this space. Our broad and diverse customer base, who have been benefiting from our aiWARE platform and technologies, will have immediate and integrated support for this new class of generative AI models, helping to increase efficiency and productivity, reduce costs and open up new opportunities for growth. We will continue investing in this exciting area to make AI accessible, scalable and affordable for every organization.”
By deploying Veritone Generative AI on aiWARE, Veritone can immediately deliver robust, orchestrated cognitive and generative AI workflows and solutions across a variety of industries, such as:
Talent Acquisition: Conversational AI in recruiting is used to engage talent in the application process and can leverage a combination of large-language models and domain-specific knowledge graphs to ask or answer job-specific questions, in any language, while enriching the talent profile to best position them for the job opportunity. With the global HR and recruiting services market expected to reach $761B in 2023, per IBISWorld, Veritone aims to significantly advance and automate this industry with its leading technology and solutions.
“Through PandoLogic, Veritone is changing the HR game with generative AI for recruiting and connecting with talent. With the PandoSelect solution, we have seen great results from their conversational AI product, helping us qualify and engage candidates in our pipeline, and ultimately allowing us to ask and answer specific questions as part of the application process. The result: an organic conversation and engaging experience with prospective talent, while at the same time enriching the candidate’s profile to help us qualify them for the role,” said Cesar Capistrano, of ARC Logistix LLC, an Amazon Delivery Service Partner.
Sports: By leveraging program scheduling and in-game data, natural language processing and AI-generated text and voice, media partners can use Veritone Generative AI to produce AI-powered sport commentary and play-by-play, as well as pre-and post-game updates in multiple languages.
“The Veritone team is creating new ways for fans to access game data in real-time, and with Veritone Generative AI they are enhancing the entire interactive experience for games,” said Stats Perform Chief Revenue Officer Steve Xeller. “Interactivity and personalisation are transforming fan engagement for sports and we are thrilled to continue to partner with Veritone.”
Advertising and Entertainment: The advertising and entertainment industry uses generative AI to create new forms of content and keep up with content demand, extending their reach and improving accessibility of their brand with AI-generated, pre-built assets including multilingual content, ad promos and images.
“The Chad & Cheese Podcast partnered with Veritone to launch a series of multilingual episodes, which has been an incredible success in opening up new markets,” said Chad Sowash, co-host of The Chad & Cheese Podcast and former director of Veteran Recruiting for Randstad Sourceright. “Now, with Veritone Generative AI, we can get so much more out of our episodes including full contextual summaries, multilingual ad promos, images and graphics.”
Law Enforcement: Law enforcement training and compliance was limited to text-based documents and simple videos. With their data in a secure, domain-specific, large-language model, managed by aiWARE and using generative AI, agencies can easily summarize and communicate policies, recommendations and mandates with accuracy and speed.
“As a long-standing Veritone client, we’re very excited to see how generative AI will be applied to help our agency further save time, money and resources,” said Jorge Cisneros, Police Chief, Anaheim Police Department. “From advanced training of our sworn officers, to streamlining our mission critical data functions, this is a game-changer.”
AI and machine learning have been augmenting the workforce for years and will continue to do so for the foreseeable future. Generative AI is the next major advancement in extending and amplifying the human effort.
“Generative AI has developed over the past few years; however, in the past 12 months, foundation models have been hyped for the ability to augment creative work, attracting significant investment from venture capitalists,” Gartner® Innovation Insight for Generative AI, Brian Burke, Arun Chandrasekaran, Svetlana Sicular, December 15, 2022.
As a core pillar of the aiWARE platform, its workflows, and ecosystem, Veritone Generative AI’s robust capabilities are available natively — via API and Veritone’s low-code workflow application, Automate Studio — and will also be seamlessly integrated with Veritone’s industry-specific applications. Veritone Generative AI is being leveraged in client data, media, and communication workflows across several business segments today, building upon and extending Veritone’s current integrated cognition, conversational AI, and other robust AI/ML offerings.
In addition to its current large language model support, Veritone plans to also natively support expanded generative AI models for image and video generation, such as DALL-E and other prompt-to-image and video models, through aiWARE, in the second quarter of 2023.
To learn more about Veritone Generative AI, see demos, and view best practices, please visit www.veritone.com/generativeAI
GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.
About Veritone
Veritone (NASDAQ: VERI) is a leader in enterprise artificial intelligence (AI) solutions. Serving organizations in both commercial and regulated sectors, Veritone’s software, services, and industry applications simplify data management, empowering the largest and most recognizable brands in the world to run more efficiently, accelerate decision making and increase profitability. Veritone’s leading Enterprise AI platform, aiWARE™, orchestrates an ever-growing ecosystem of machine learning models to transform audio, video and other data sources into actionable intelligence. Through its robust partner ecosystem and professional and managed services, Veritone develops and builds AI solutions that solve problems of today and tomorrow.
This news release contains forward-looking statements. 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.
Veritone Generative AI is an enterprise-grade Platform-as-a-Service that supports both public large language models and domain-specific models to enhance content generation and data processing.
How does Veritone Generative AI benefit industries?
It provides significant advantages in efficiency and engagement across industries such as talent acquisition, sports, advertising, and law enforcement by automating content creation.
What market does Veritone target with its new offering?
Veritone aims to significantly advance the talent acquisition market, which is projected to reach $761 billion in 2023.
When will Veritone expand its generative AI capabilities?
Veritone plans to support expanded generative AI models for image and video generation in Q2 2023.
