Veritone, Inc., a leading provider of cloud-based artificial intelligence (“AI”) analytics and cognitive solutions, today announced that it has signed an agreement with Business Intelligence Associates, Inc. (BIA), a leader in Managed Legal Services, to license Veritone Legal’s first-of-its-kind Veritone Artificial Intelligence Platform™ (VAIP) to advance its eDiscovery and Compliance capabilities for the analysis and discovery of audio and video data. Veritone’s VAIP provides near real-time, AI-based media capture, indexing and search capabilities to its clients in the legal, financial services and life sciences markets. A long-time leader, BIA is one of the latest companies to team with Veritone to revolutionize the legal industry by using its innovative and unique AI-based search technology to provide a secure, scalable and cost effective platform for managing audio and video data in litigation discovery and compliance processes.
BIA will harness the power of Veritone’s VAIP to satisfy the rapidly-multiplying demands for actionable intelligence for its customers. The foundation of an eDiscovery process starts with the defensible identification, preservation and collection of data, from any source, anywhere, anytime. Through the VAIP, audio and video recordings are ingested at massive scale and automatically transcribed; the resulting content is fully searchable and accessible in the cloud. Veritone Legal’s open platform dramatically improves the way audio and video media can be organized and searched, all at a fraction of the cost of competitive solutions.
BIA will offer the Veritone Artificial Intelligence Platform to its customers in the legal, financial services and life sciences markets to enable them to efficiently and effectively manage data for litigation, regulatory matters, and investigations. Prior to the introduction of Veritone Legal’s platform, these customers historically had limited options that were typically very expensive, time-consuming and hard to manage.
“Every so often, a solution comes into the market that dramatically changes the face of the industry. The Veritone Artificial Intelligence Platform is one of those game changers. This relationship will enable BIA’s financial services and life sciences clientele to analyze audio and video data faster, with more accuracy and intelligence than any other platform. It is by far one of the most remarkable new technologies I’ve seen in the past several years and BIA is thrilled to be an early adopter,” said Mark MacDonald, Vice President of Sales for BIA.
“In the same way that eDiscovery solutions years ago enabled automated analysis of large volumes of text documents, Veritone has now enabled hyper-scale, automated analytics of audio and video for eDiscovery and Compliance professionals. The performance and cost economies of the cloud, combined with Veritone’s unique, AI-based approach, are changing eDiscovery, proactive compliance and fraud investigations forever, and in some instances can even help to identify potential problems before they become legal or compliance issues,” said Mike McDonald, General Manager of Veritone Legal.
BIA will leverage Veritone’s cloud-based VAIP to empower, simplify and cut costs associated with eDiscovery search beyond text documents, enabling users for the first time access to audio and video files that have previously been largely unusable in litigation and proactive compliance efforts due to the high cost and significant time and manpower required. The VAIP will enable BIA to significantly improve the efficiency and effectiveness of its clients’ litigation efforts as well as their proactive compliance programs and investigations.
“Veritone Legal is committed to organizing the world’s audio and video and making it searchable, to dramatically change the way companies conduct eDiscovery and compliance programs,” said Mike McDonald. “The combination of Veritone’s cloud-based indexing and storage solutions, coupled with our powerful AI-based search and discovery capabilities, make Veritone a powerful partner for BIA and all of the industries it serves.”
Veritone’s platform currently ingests thousands of hours of audio and video content daily, leveraging its powerful suite of over 30 integrated cognitive engines, including natural language processing, logo detection, voice fingerprinting, facial recognition and object detection, creating a rich and actionable database and index.
To see Veritone CEO, Chad Steelberg, discuss artificial intelligence, watch this video.
About Veritone, Inc.
Veritone, Inc. is a leading cloud-based Artificial Intelligence (AI) technology company that has developed a proprietary Cognitive Media Platform™ (CMP). The platform unlocks the power of AI-based cognitive computing to process, transform and analyze data in a seamless, automated manner, enabling clients in the media, enterprise, politics, legal and law enforcement market to generate actionable intelligence from the world’s public and private audio and video content, which comprises the majority of all global data produced each year. Founded in 2014, Veritone has won several of the industry’s most prestigious awards, including the 2016 Red Herring Top 100 North America Award and the 2016 SIIA Business Technology CODiE Award for Best Native Advertising Platform or Service. Veritone was founded by serial entrepreneurs and brothers, Chad and Ryan Steelberg. The duo have a successful track record in identifying new market opportunities, creating disruptive technology-based companies and leading them to successful exits for their stakeholders. To learn more about Veritone, please visit www.veritone.com.
BIA is a leader in the legal information management industry, with over a decade of experience helping companies, governmental agencies, and law firms successfully manage data for lawsuits, regulatory matters, and investigations. Our Professional Services teams provide defensible, affordable, and integrated solutions that address the entire litigation and regulatory lifecycle, from initial identification and collection through review, production, managed document review and presentation. We strive to provide the most proactive, defensible and cost-effective eDiscovery solutions to our customers and do so with the goal of unparalleled customer happiness.