Veritone Partners With Snowflake to Deliver AI-Powered Data Cloud

Rhea-AI Summary

Veritone (NASDAQ: VERI) has announced a strategic partnership with Snowflake to enhance enterprise data management through the integration of its aiWARE platform. This collaboration aims to provide actionable insights from both structured and unstructured data, enabling businesses to leverage AI for improved decision-making. The integration focuses on analytics across various sectors, promoting efficiency and operational transformation. With a scalable architecture, this partnership is expected to unlock significant value for users, driving better business outcomes and supporting digital transformation initiatives.

Positive

• Strategic partnership with Snowflake enhances data analytics capabilities.
• Integration of aiWARE with Snowflake allows access to untapped analytical potential.
• Partnership expected to provide actionable insights across various sectors.

Negative

• None.

Technology Leaders and Innovators Join Forces to Provide Unparalleled Actionable Insights Across Structured and Unstructured Enterprise Data Sets

DENVER--(BUSINESS WIRE)-- Veritone, Inc. (NASDAQ: VERI), creator of aiWARE, a hyper-expansive Enterprise AI platform today announced a partnership with Snowflake, the Data Cloud company, that provides enterprises with visibility and actionable insights into 100 percent of their data – structured, semi-structured and unstructured – unlocking the potential for digital and operational transformation.

"We at Audacy have been using both solutions and are excited about this partnership which will accelerate our product release timelines and internal business processes," John Pacino, Executive Vice President of Product of Audacy. "For instance, the integration of aiWARE with Snowflake's Data Cloud will connect Veritone's cognitively-enabled application suite and workflow tools to the rest of our enterprise application and data ecosystem, unlocking AI-enabled use cases such as content recommendations, search & discovery, brand safety and contextual ad targeting."

As a Snowflake Technology Partner, Veritone will integrate its aiWARE enterprise AI platform with Snowflake to transform unstructured data – including voice, video, images, text, and sensor data – into valuable insights and actionable intelligence. Through this multifaceted partnership, Snowflake customers can now query and analyze all data within Snowflake’s platform or within aiWARE’s cognitively-enabled applications, including hard-to-reach data that is typically inaccessible without human intervention, to produce richer insights and unlock value across a multitude of vertical markets – from media and entertainment to advertising, financial services, healthcare, retail, consumer packaged goods, and more. Additionally, Veritone customers can access Snowflake’s Data Cloud and their partner ecosystem within aiWARE applications. With a significant percentage of the world’s data unstructured, aiWARE has the potential to deliver significant global impact among Snowflake’s thousands of customers.

“Veritone’s enterprise AI platform can offer our customers a solution for AI-powered analytics to tap into hard-to-reach data sources such as video, images, and audio,” said Adrian Bolosan Industry Principal, Media & Advertising at Snowflake. “Our customers rely on the Snowflake Data Cloud to power their businesses, and with Veritone aiWARE our customers can get access to additional untapped analytical potential of their unstructured data to help drive better business outcomes.”

aiWARE’s cloud-based, scalable architecture delivers insight across massive enterprise data sets, helping customers drive informed and autonomous decision-making. Snowflake customers can easily access hundreds of supported AI models enabling audio analytics, including transcription and speaker recognition; machine vision and biometrics, including face recognition, object detection, logo detection and text recognition; and text analytics, including language identification, translation, entity extraction, text extraction, translation and sentiment analysis.

“Through our partnership with Snowflake, we take another big step forward in democratizing AI by making the power of unstructured data available to more organizations and departments,” said Chris Doe, Head of Commercial Products, Veritone. “By providing companies with access and insights to 100 percent of their data, Snowflake and Veritone also enable organizations to automate content-centric business processes and operationalize all of their AI initiatives on a single platform, reducing time-to-digital transformation and unlocking new business opportunities.”

For more information about the partnership, visit the Veritone-Snowflake information web page.

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 hyper-expansive 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 the problems of today and tomorrow. To learn more, visit Veritone.com.

Safe Harbor Statement

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211214005004/en/

Valerie Christopherson or Lora Wilson

Global Results Comms (GRC)

+1 949 608 0276

Veritone@globalresultspr.com

Source: Veritone, Inc.

FAQ

What is the significance of the Veritone and Snowflake partnership?

The partnership aims to enhance analytics capabilities by integrating Veritone's aiWARE platform with Snowflake, enabling better insights from structured and unstructured data.

How will Veritone's aiWARE platform benefit Snowflake customers?

Snowflake customers can access Veritone's AI-enabled applications, allowing for advanced analytics and insights from hard-to-reach data sources.

What sectors could benefit from the Veritone and Snowflake collaboration?

The collaboration is expected to unlock value across multiple sectors, including media, advertising, financial services, healthcare, and retail.

What role does AI play in the Veritone and Snowflake partnership?

AI facilitates advanced analytics by processing unstructured data, thus enabling organizations to make more informed decisions.

What does the partnership mean for digital transformation initiatives?

The integration is designed to accelerate digital transformation by combining the strengths of both platforms, making data-driven insights more accessible.