Home Financial Markets Veritone, Inc. (VERI) Won $1.3 Million Subcontracts For aiWARE

Veritone, Inc. (VERI) Won $1.3 Million Subcontracts For aiWARE

Veritone, Inc. (VERI) this week come announcing securing important U.S. Air Force project subcontracts for its aiWARE artificial intelligence (AI) operating system.

The system is the world’s first operating system for artificial intelligence created by Veritone. It will be used in the project to further enhance the speed and accuracy of project’s overhead imagery for a better analysis.

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Subcontracts of worth $1.3 million have been awarded to Veritone for its technology development services and software license. The award has been supported by Small Business Innovation Research (SBIR) program of Air Force’s innovation unit (AFWERX). A Pahse II contract is awarded to alYnmnt as a prime contractor under the SBIR program of AFWERX.

AFWERX and the Air Force Research Laboratory team up to make the SBIR process more efficient. They are in efforts to accelerate that program and also trying to include more such projects.

Chad Steelberg, CEO of Veritone called it exciting and privileging to be part of winning team which secured this contract from one of the most esteemed and technically advanced U.S. government agencies. The award of subcontracts further testifies the strength of our international level AI Operating System aiWARE. The system makes a diverse ecosystem of machine learning methods to converts several types of data sources whether audio, video, text or any other form into actionable intelligence.

As part of the Phase II contract, alYnmnt will develop software that could be integrated with Veritone’s aiWARE to process overhead imagery. This will use multiple AI object detection engines by combining them in a way best possible. The contract awarding units are expecting aiWARE to provide pre-processing imagery and video with object detection engines. This will significantly increase the speed, accuracy, processing time and efficiency of those analyzing the imagery.

Head of Government, Legal and Compliance at Veritone, Jon Gacek mentioned the subcontracts award as a massive win for aiWARE. He counted the Phase II project a big success for the country and its national security.

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