Replies to post #10400 on Veritone Inc (VERI)

[KVM]

The other thing is the formation of the Ai Solutions Group. Now they realize to get in the door for Ai they have to start as single Solutions providers like a Plantir etc.Dream of Aiware and billions of end users is dead. Still early in the game to make Veri a 500 mil+ annual revenue company and profitable. I think once ad agency gone can then be viewed as true ai company and be valued accordingly.

[GBR]

your comment:

And regarding Aiware I think the elimination from AWS market place that Aiware is not a stand alone product and only is a platform that comes with Veri applications to run on and eventually with possibly third party applications.I think that the official formation or renaming to Ai Solutions Group is evidence of that. Aiware wasn't getting in any door alone. It needs initially Veri applications and than can be built upon after that.

Your comment is supported by the the description of business on the 10Q.

"The Company’s proprietary AI operating system, aiWARETM, uses machine learning algorithms, or AI models, together with a suite of powerful applications, to reveal valuable insights from vast amounts of structured and unstructured data. "

I agree with your assessment. I think Veritone, and other companies have learned the hard way that it's hard to sell a standalone AI platform or raw AI solutions. You have to have applications that go along with it. Applications show the platform in action, and target actual business use cases. Hard to get companies to start developing on your platform. Another thing is companies don't want to develop on a platform when they don't know if the platform is going to survive, or the company that owns the platform is going to survive.



your comment:

I think that the official formation or renaming to Ai Solutions Group is evidence of that. Aiware wasn't getting in any door alone. It needs initially Veri applications and than can be built upon after that.

Agree. And I think they have known this for a long time. All part of RS changing the narrative, focusing on ecosystem. Have not marketed aiWare as a standalone product for ages.


In the old days, CS was all about the platform. Only wanted 1% of applications on aiWare. CS even said "we had to develop applications to demonstrate aiWare." Now under RS, it is more about the applications. They've had to roll with the punches and switch gears.