Sunday, December 13, 2020 5:30:00 PM
This latest article calls Veritone an "AI pretender".
They never say what qualifies to meet their definition of what "AI" IP is. If Veritone's patents consisted entirely of IP on various algorithms, would that satisfy them? They don't say what meets their threshold to be considered an "AI company".
From what I see, although I am far from being any expert on IP, Veritone acquired significant IP from Atigeo back in 2017, and this is the source of their CDI IP. They have continued to develop this, and have filed and obtained several follow-on patents concerning CDI and applying it to battery control. These are the patents that support the recently announced Energy vertical and the various solutions that Veritone offers.
They have integrated this CDI technology with their aiWARE platform.
One can go to their website to learn about CDI technology, as well as the advantages of the aiWARE platform. As far as IP for aiWARE, it is my understanding that it primarily concerns the orchestration of AI engines.
So my thought on the recent hit piece as well as the prior hit pieces is that they are just that. "Hit pieces". They don't want to acknowledge that Veritone has IP. They don't acknowledge that Veritone has (perhaps until now) been a self described development stage company with a land and expand strategy. They criticize the lack of meaningful aiWARE revenues, but don't acknowledge that Veritone has never targeted a current generation AI point solution market.
All that being said. They are correct in the current AI revenues from Veritone are not that great. Veritone touts numerous big name partners and customers, but all these customers and partners currently are only able to generate 3.4 million in aiWARE revenue for Veritone. So they have a point, but they like to drive that point home rather than give any attention to the fact that Veritone has always focused on positioning for the future. Land and Expand.
It's up to Veritone to execute, and put an end to these articles that call them an AI pretender. To me, it reminds me of the old days when IBM was the dominant PC company. Then Microsoft came along with an operating system. It would be the same if Seeking Alpha authors had criticized young Microsoft for not being a "real computer company." So you should stick with IBM and dump Microsoft because IBM is a "real" computer company and has all the patents.
So, the article is shortsighted in my opinion, but there is no getting around it, Veritone certainly comes with risk. But its just my opinion that they do have IP to consider, and do have opportunities to do great things. In my opinion, Veritone has done a great job "landing", now is the time for them to demonstrate that they are "expanding". That's where we are right now, so we'll see.
Recent VERI News
- World Horse Racing Selects Veritone as Exclusive Digital Asset Management Provider • Business Wire • 06/21/2024 11:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/18/2024 08:54:03 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 06/18/2024 08:52:09 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/17/2024 09:00:17 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/17/2024 09:00:14 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/17/2024 09:00:11 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/14/2024 08:07:27 PM
- Veritone Announces Appointment of Michael Keithley to Board of Directors • Business Wire • 06/13/2024 08:00:00 PM
- Form S-3 - Registration statement under Securities Act of 1933 • Edgar (US Regulatory) • 06/12/2024 08:53:10 PM
- Veritone AI-Powered Solutions for Public Sector Now Available in AWS Marketplace • Business Wire • 05/21/2024 11:00:00 AM
- Veritone Announces Strategic Partnership with Creative Artists Agency for the Launch of theCAAvault • Business Wire • 05/14/2024 11:00:00 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/10/2024 08:03:07 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/07/2024 08:42:19 PM
- Veritone Reports First Quarter 2024 Results • Business Wire • 05/07/2024 08:41:00 PM
- Veritone Launches AI Consulting and Services Group, Achieves AWS Advanced Tier Services Partner Status • Business Wire • 05/07/2024 11:00:00 AM
- Veritone and OPEXUS Team Up to Provide AI Solutions to National Canadian Bank • Business Wire • 04/30/2024 11:00:00 AM
- Veritone Clinches 2024 NAB Product of the Year Award for a Fifth Time with Generative AI Solution • Business Wire • 04/17/2024 08:30:00 PM
- Veritone to Hold First Quarter 2024 Results Conference Call on May 7th • Business Wire • 04/11/2024 08:15:00 PM
- Veritone Enhances Advertising and Content Intelligence Suite to Support Future-Proofing of Client Broadcast Revenues • Business Wire • 04/11/2024 08:00:00 PM
- Veritone and Grabyo Partner to Create AI-Powered Live Clipping, Asset Management and Monetization Solution • Business Wire • 04/04/2024 11:00:00 AM
- Veritone to Showcase Innovative AI Solutions, Including New Ask Veri Tool, at the 2024 NAB Show • Business Wire • 04/03/2024 11:00:00 AM
- Broadcast Media Has a Measurement Issue; Can AI Solve It? • Business Wire • 04/02/2024 11:00:00 AM
- Veritone Launches Ask Veri to Empower Customers to Talk to Their Data for Actionable Insights and Workflow Activation • Business Wire • 03/26/2024 11:00:00 AM
- Veritone Partners with WSI Technologies to Automate Public Records Requests for Primary State-Wide Law Enforcement Agency • Business Wire • 03/19/2024 05:30:00 PM
- Veritone Reports Fourth Quarter and Fiscal Year 2023 Results • Business Wire • 03/12/2024 08:10:00 PM
Last Shot Hydration Drink Announced as Official Sponsor of Red River Athletic Conference • EQLB • Jun 20, 2024 2:38 PM
ATWEC Announces Major Acquisition and Lays Out Strategic Growth Plans • ATWT • Jun 20, 2024 7:09 AM
North Bay Resources Announces Composite Assays of 0.53 and 0.44 Troy Ounces per Ton Gold in Trenches B + C at Fran Gold, British Columbia • NBRI • Jun 18, 2024 9:18 AM
VAYK Assembling New Management Team for $64 Billion Domestic Market • VAYK • Jun 18, 2024 9:00 AM
Fifty 1 Labs, Inc Announces Acquisition of Drago Knives, LLC • CAFI • Jun 18, 2024 8:45 AM
Hydromer Announces Attainment of ISO 13485 Certification • HYDI • Jun 17, 2024 9:22 AM