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### Veritone Collaborates with Amazon to Boost the Orange County Business Journal’s “Responsible” AI

Artificial intelligence software and services firm Veritone Inc. (Nasdaq: VERI), which counts its m…

Veritone Inc., a company specializing in artificial intelligence software and services with its primary office located in Orange County, has recently partnered with an Amazon initiative aimed at ensuring the responsible use of advanced technology.

Recent news reports, including the tumultuous events at OpenAI, have heightened public awareness surrounding these systems and raised concerns about their future implications.

The dialogue has become increasingly pressing following reports of Sports Illustrated magazine utilizing AI-generated content. The Author’s Guild has accused OpenAI of appropriating the works of renowned authors such as John Grisham.

Generative AI, a broad term encompassing various forms of artificial intelligence capable of creating innovative content across different mediums like text, images, video, music, code, or chemical data, is a key area of focus. Veritone underscores its commitment to “AI for Excellent.”

Sean King, the senior vice president at Veritone, emphasizes the advocacy for the safe and ethical utilization of AI as a concept that individuals should embrace without trepidation.

Despite relocating its headquarters to Denver in 2021, the company, valued at approximately $87 million as of last year, maintains a workforce of around 175 employees in Orange County, with its regional headquarters situated in UCI Research Park.

Veritone’s systems find applications in the media, sports, and entertainment sectors.

King extols the potential of AI, stating, “This tool can truly empower businesses of all sizes to achieve much more.”

He asserts that AI is not displacing existing roles but rather enhancing them. King mentioned on November 30 to the Business Journal, “Efforts are underway to integrate AI, particularly relational AI, into current operations.”

AWS Collaboration

Veritone has become a member of the Amazon Web Services Partners’ Generative AI Center of Excellence (CoE). This initiative, launched last month, aims to equip AWS partners with the necessary solutions and resources to advance the responsible development of conceptual AI.

The CoE, backed by Amazon, offers training materials and educational resources for partners seeking to bridge the gap between the potential of artificial intelligence and the evolving landscape of generative AI tools, applications, and use cases that can enrich Amazon’s customer interactions.

Key contributions from leading conceptual AI firms and industry experts such as Boston Consulting Group, Capgemini, IBM, McKinsey & Company, and NVIDIA are integrated into the CoE.

Skill Enhancement

King highlights how AI “upskills” individuals, enabling them to dedicate less time to routine tasks. Veritone is poised to contribute its expertise to bolster the proliferation of use cases, applications, and conceptual AI tools.

In 2017, the company went public and was valued at over $1 billion at one point. However, its valuation has since declined, dropping by approximately 50% since the beginning of this year.

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Last modified: February 6, 2024
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