Veritone Unveils Data Refinery to Power Next-Generation AI Technology

New Offering Helps Enterprises Transform Unstructured Data into AI-Ready Assets, Enabling Breakthroughs in AI Models and Applications

Press Release – November 20, 2024 – DENVER – Veritone, Inc. (NASDAQ: VERI), a leader in building enterprise AI solutions, today announced the launch of Veritone Data Refinery (VDR) a groundbreaking offering designed to help enterprises transform vast amounts of unstructured data into high-quality, AI-ready assets. Leveraging Veritone’s proprietary aiWARE™ platform, this new solution empowers organizations to transform and manage their video, audio and text data for training sophisticated AI models, and even optimize revenue opportunities through data monetization.

“With Veritone Data Refinery, we’re bridging a critical emerging gap in the AI ecosystem by turning raw data into high-value assets that can power next-generation AI” Post this

According to CB Insights, the availability of high-quality text data is expected to dwindle by 2026, posing significant challenges for advancing AI technology. VDR enables organizations to address this challenge head-on by converting unstructured data into structured datasets ready for training Large Language Models (LLMs) and Large Multimodal Models (LMMs), which require diverse data inputs such as images, text, and audio. Organizations can centralize and normalize their data from images, text, and videos, allowing them to maximize their AI capabilities from chatbots to fine-tuned models and unlock future opportunities to leverage analytics and products.

“With Veritone Data Refinery, we’re bridging a critical emerging gap in the AI ecosystem by turning raw data into high-value assets that can power next-generation AI,” said Ryan Steelberg, president and chief executive officer, Veritone. “Veritone’s decade-long commitment to advancing AI technology has uniquely positioned us to deliver an end-to-end solution that not only transforms data but does so securely, ethically and at scale. This commitment ensures that our clients can innovate responsibly while maximizing the potential of their proprietary data.”

Through aiWARE’s advanced capabilities, VDR transforms disparate data silos into a centralized and secure repository. From this repository, enterprises can manage, secure and optimize their intellectual property empowering them to confidently:

Extract immediate value and ROI out of Veritone’s 20+ award-winning applications, serving both Public and Commercial sectors;
Identify custom AI solution and development needs, including training and fine-tuning AI cognitive and large language models; or
Explore monetization opportunities through third-party data licensing.

In a rapidly evolving AI landscape, VDR helps meet the growing demand for high-quality datasets essential for AI advancement with deep and diverse data covering content from education, foreign language, sports, TV, film, podcasts, audio descriptions and more. VDR’s accessibility of assets allows developers, engineers and data scientists the scale to solve their data needs.

As data rights holders become increasingly protective of their assets, Veritone’s solution ensures that enterprises maintain full control over the privacy and security of their data. With enterprise-grade encryption, GDPR compliance and SOC2 certification, VDR provides peace of mind while unlocking new avenues for AI innovation and revenue generation.

To learn more about Veritone Data Refinery, please visit https://www.veritone.com/industries/data-asset-management/.

About Veritone

Veritone (NASDAQ: VERI) builds human-centered enterprise AI solutions. Serving customers in the media, entertainment, public sector, and talent acquisition industries, Veritone’s software and services empower individuals at the world’s largest and most recognizable brands 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, transforming data sources into actionable intelligence. By blending human expertise with AI technology, Veritone advances human potential to help organizations solve problems and achieve more than ever before, enhancing lives everywhere. To learn more, visit Veritone.com.