Veritone, Inc. (NASDAQ: VERI)

Veritone, Inc., known by its ticker symbol VERI, operates in the artificial intelligence (AI) industry. The company is committed to utilizing AI to build a safer, more efficient, transparent, and empowered society. Through its mission to contribute positively to the world with AI, Veritone provides a range of computing solutions and services, as well as certain advertising and licensing services.

Veritone's primary business activities include offering AI computing solutions and services through its Software Products & Services and Managed Services segments. The Software Products & Services segment includes aiWARE, a proprietary AI operating system that leverages machine learning algorithms to extract valuable insights from structured and unstructured data. aiWARE mimics human cognitive functions such as perception, prediction, problem-solving, and optimization, allowing users to efficiently transform unstructured data into structured data and optimize data for business processes and insights.

The Managed Services segment offers digital content licensing services, managing and licensing content on behalf of leading rights holders in various industries, including film, television, sports, and advertising. Additionally, the segment provides advertising services that handle media planning and strategy, media buying and placement, campaign messaging, clearance verification, and attribution, as well as custom analytics.

Veritone's aiWARE platform is primarily provided through a software-as-a-service (SaaS) delivery model and can be deployed in a variety of environments and configurations to meet each customer's specific requirements. The platform is available through multiple deployment models, including fully cloud-based options hosted by Veritone in Amazon Web Services (AWS) and Microsoft Azure (Azure) commercial and secure government cloud environments, on-premises options, and hybrid cloud/on-premises options.

Veritone targets two distinct markets: Commercial Enterprise and Government & Regulated Industries. The Commercial Enterprise market includes customers in the media and entertainment, advertising, and content licensing industries, as well as hiring solutions customers. The Government & Regulated Industries market includes customers in government and regulated industries, such as state and local government, legal and compliance markets, law enforcement, legal and judicial professionals, and companies and regulatory bodies in highly regulated industries.

In the Commercial Enterprise market, Veritone's aiWARE platform supports various applications, including media broadcasting, advertising, and content licensing. In the Government & Regulated Industries market, the aiWARE platform is used for eDiscovery, the process of identifying, collecting, and producing electronically stored information, where audio and video content analysis is playing an increasingly important role in civil litigation and criminal proceedings.

Veritone's competitive advantages include its proprietary aiWARE platform, which mimics human cognitive functions and enables users to quickly, efficiently, and cost-effectively transform unstructured data into structured data and analyze and optimize data for business processes and insights. The company's platform is highly modular and customizable, enabling easy integration with existing systems and workflows. Moreover, Veritone's platform is available through multiple deployment models, providing customers with flexibility and choice.

The company's customers include a diverse range of organizations across various industries, such as media and entertainment companies, advertising agencies, content licensors, government agencies, law enforcement organizations, and regulated industries. Key competitors include other AI and machine learning companies and traditional media and entertainment companies that are developing their own AI and machine learning capabilities.

Notable brand names and/or trade names of Veritone's products and services include aiWARE and its applications, such as aiWARE Processing for media broadcasters. These solutions cater to specific customer use cases within Veritone's target markets.