Veritone Awarded $1.3 Million Of Subcontracts Under U.S. Air Force Program to Enhance Satellite Imagery Analysis
Veritone, Inc. (Nasdaq: VERI), the creator of the world’s first operating system for artificial intelligence, aiWARE™, today announced that it has been awarded key subcontracts under a U.S. Air Force project that will use Veritone’s aiWARE artificial intelligence (AI) operating system to increase the speed and accuracy of overhead imagery analysis.
AFWERX, the Air Force’s innovation unit, awarded a Phase II contract under the Small Business Innovation Research (SBIR) program to prime contractor alYnmnt. Veritone has been awarded subcontracts for software license and technology development services totaling $1.3 million in support of this program.
The Air Force Research Laboratory and AFWERX have partnered to streamline the SBIR process in an attempt to speed up the experience and broaden the pool of potential applicants.
“Veritone is thrilled and honored to be part of the team that won this contract from one of the most respected and technologically advanced U.S. government agencies,” said Chad Steelberg, CEO of Veritone. “This is a further testament to the power of our world-class AI Operating System, aiWARE, which orchestrates a diverse ecosystem of machine learning models to transform audio, video, text and other data sources into actionable intelligence.”
Under the terms of the Phase II contract, alYnmnt will develop software integrated with Veritone aiWARE to process overhead imagery using the optimal combination of AI object detection engines. The contract expectation is that aiWARE will significantly increase the speed, accuracy, throughput and productivity of imagery analysts by pre-processing intelligence imagery and video with object detection engines.
“This is a massive win for Veritone aiWARE,” said Jon Gacek, Head of Government, Legal and Compliance at Veritone. “We expect the Phase II project to be a big success for our country and its national security.”
Veritone (NASDAQ: VERI) is a leading global software and solutions provider at the forefront of the artificial intelligence (AI) revolution. The company’s proprietary operating system, aiWARE™, the world’s first operating system for AI, democratizes AI as well as orchestrates an expanding ecosystem of machine learning models to transform audio, video, and other data sources into actionable intelligence. Veritone is helping to solve systemic and intractable problems in multiple sectors, including energy, media & entertainment, government, legal & compliance and public health & safety. Veritone is headquartered in Costa Mesa, California, and has offices in Denver, London, New York and San Diego. To learn more, visit veritone.com.
Safe Harbor Statement
This news release contains forward-looking statements, including without limitation statements regarding Veritone’s subcontract under the AFWERX SBIR program and the expected benefits of the solution to end users. 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.