Welcome to our dedicated page for Veritone news (Ticker: VERI), a resource for investors and traders seeking the latest updates and insights on Veritone stock.
Veritone, Inc. (symbol: VERI) is a pioneering company specializing in advanced artificial intelligence (AI) computing solutions and services. Founded in 2014, Veritone has swiftly risen to prominence with its proprietary AI-based cognitive computing platform that allows for the seamless processing, transformation, and analysis of unstructured audio and video data. This innovative platform, known as aiWARE, integrates a robust ecosystem of various top-tier cognitive engines, enabling businesses to extract valuable insights from vast amounts of media data.
Veritone's core business revolves around the delivery of its software products and services. The company serves a diverse clientele, including Commercial Enterprises and Government and Regulated Industries. Through its aiWARE platform, Veritone offers a range of services, including content licensing, advertising agency functions, influencer management, and related professional services. These solutions are designed to support clients in deploying and implementing efficient AI-driven strategies.
With a strong presence across multiple continents, including the United States, the United Kingdom, France, Australia, Israel, and India, Veritone's reach and influence are widespread. The company's ability to generate revenue stems from both its Software Products and Services and its Managed Services. This dual revenue stream underscores Veritone's strategic approach to market penetration and growth.
Veritone has garnered significant recognition in the industry, evidenced by accolades such as the Red Herring Top 100 Award, the Edison Awards, and the SIIA Business Technology CODiE Award for Best Native Advertising Platform or Service. These honors highlight the company's commitment to innovation and excellence in AI technology.
Recent developments at Veritone include ongoing enhancements to its aiWARE platform, expanding its capabilities to provide even more profound and actionable intelligence from multimedia data. The company's continuous improvement efforts ensure that it remains at the forefront of the AI industry, delivering cutting-edge solutions to its clients worldwide.
Veritone (NASDAQ: VERI), a leader in human-centered AI solutions, has announced its upcoming second quarter 2024 financial results conference call. The call is scheduled for Thursday, August 8, 2024, at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). During the call, Veritone will discuss Q2 2024 results, provide a business update, and conduct a Q&A session.
Participants can join via audio webcast or dial in using the provided numbers. To avoid delays, pre-registration is recommended. Domestic callers can use (844) 750-4897, while international callers should dial (412) 317-5293. Pre-registered participants will receive a unique PIN upon registration.
Veritone (NASDAQ: VERI) has released an analysis of Q2 2024 U.S. Bureau of Labor Statistics (BLS) Jobs Data and AI job growth. The report shows that AI job growth and wages continue to outpace the general job market. Key findings include:
- Total nonfarm payroll employment increased by 532,000 in Q2
- U.S. unemployment rate rose to 4.1%
- Average hourly earnings increased by 0.9% to $35
- AI job vacancies increased by 5.6% from Q1 2024 and 31.5% year-over-year
- Median salary for AI jobs in Q2 2024 was $157,196, a 7.2% increase from the previous year
The top markets for AI job vacancies were California, New York, and Texas. The highest-paying AI job openings ranged from $272,000 to $450,000 annually.
Veritone (NASDAQ: VERI) has secured a multi-year content licensing agreement with Tennis Australia, the governing body of tennis in Australia and host of the Australian Open, one of the four Grand Slam® tournaments. This deal allows Veritone to license archival match footage from the Australian Open to content buyers in North America. With this partnership, Veritone aims to provide a streamlined platform for its extensive customer base, spanning advertising, documentary, editorial, arts, and entertainment sectors, to access diverse tennis media. The agreement enhances Veritone's position as a leader in sports content licensing, adding to its existing partnerships with the US Open and the French Open. The Australian Open 2024 reached over 2.17 billion people globally, underscoring the significant value of this archival media.
Veritone (NASDAQ: VERI) has entered a multi-year agreement with World Horse Racing, an international digital media entity supported by iconic horse racing organizations including Ascot Racecourse and the Breeders' Cup. Veritone's AI-powered Digital Media Hub (DMH) will be used for intelligent asset management, facilitating rapid content curation, distribution, and monetization. The collaboration aims to streamline media workflows, enhance global distribution, and provide centralized functionality for remote production environments. DMH offers advanced features like AI-driven search, content monetization, and future upgrades including semantic search and enhanced admin control.
Veritone (NASDAQ: VERI) has announced the appointment of Michael Keithley to its Board of Directors. Keithley, previously the CIO at United Talent Agency and Creative Artists Agency, brings extensive experience in entertainment technology, cybersecurity, and corporate strategy. This move aims to strengthen Veritone’s commitment to AI-powered solutions for media, entertainment, sports, and broadcasting sectors. CEO Ryan Steelberg highlighted Keithley’s expertise in emerging technologies and strategic partnerships. Keithley expressed enthusiasm about joining Veritone and contributing to its growth in AI innovation.
Veritone (NASDAQ: VERI) analyzed the U.S. Bureau of Labor Statistics April 2024 Jobs Report and AI job growth using data from Aspen Technology Labs. The report highlighted that total nonfarm payroll employment rose by 175,000, while the unemployment rate remained at 3.9%. Average hourly earnings grew by 0.2% to $34.75. In contrast, AI job vacancies surged by 32% year-over-year to 14,117, with a median salary jump from $144,986 to $160,056. The analysis emphasized AI’s rapid job growth and higher wages compared to the general market, showing significant demand for AI expertise.
Veritone, a leader in AI solutions, announced the availability of its public sector solutions in AWS Marketplace. This move enhances accessibility and deployment of their AI-driven tools within AWS's cloud environment. Key products include Veritone Investigate, Redact, Illuminate, and IDentify, all designed to streamline workflows, enhance productivity, and ensure compliance for public agencies. Recognized with the AWS Public Safety Software Competency, these tools offer specialized, proven customer success. Additionally, Veritone achieved AWS Advanced Tier Services Partner status, signifying technical expertise and customer satisfaction. This collaboration underlines Veritone's commitment to empowering government, legal, and educational sectors with cutting-edge AI technology.
Veritone, a leader in AI solutions, has entered a strategic partnership with Creative Artists Agency (CAA) to launch theCAAvault, a synthetic media vault designed for the entertainment industry. Veritone will provide its Digital Media Hub (DMH) technology to store and manage digital talent assets like names, images, and voice recordings securely.
TheCAAvault aims to offer artists a secure platform for storing and sharing their digital assets while ensuring ethical AI usage. This partnership is set to drive innovation, security, and ethical considerations in the entertainment industry, reinforcing Veritone's mission of 'AI for Good.'
Veritone reported total revenue of $31.6 million for Q1 2024, exceeding guidance. ARR of $72.1 million, with 67% from subscription-based customers. New bookings of $13.0 million. Restructuring led to over $13.0 million in annualized savings.
Veritone, Inc. (NASDAQ: VERI) has launched an AI consulting and services group to assist in the implementation of AI technologies. The company has achieved AWS Advanced Tier Services Partner status within the AWS Partner Network by meeting technical requirements and demonstrating expertise. Veritone aims to empower businesses through custom AI strategy development, workflow solutions, and innovation workshops, facilitating digital transformation and AI activation.
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