Veritone, Inc. (NASDAQ: VERI), a leader in enterprise AI solutions, has announced the launch of Veritone Data Refinery (VDR). This new offering is designed to help businesses convert large amounts of unstructured data into high-quality, AI-ready assets using Veritone’s aiWARE™ platform.
VDR allows organizations to transform and manage video, audio, and text data for training advanced AI models and optimizing revenue through data monetization.
According to CB Insights, the availability of high-quality text data is expected to decrease by 2026, which could hinder AI advancement. VDR addresses this challenge by converting unstructured data into structured datasets for training Large Language Models (LLMs) and Large Multimodal Models (LMMs), which require diverse inputs like images, text, and audio. This solution helps organizations centralize and normalize their data, maximizing their AI capabilities from chatbots to fine-tuned models and unlocking future opportunities in analytics and product development.
“With Veritone Data Refinery, we’re bridging a critical gap in the AI ecosystem by turning raw data into high-value assets that can power next-generation AI,” said Ryan Steelberg, president and CEO of Veritone. “Our decade-long commitment to advancing AI technology uniquely positions us to deliver an end-to-end solution that transforms data securely, ethically, and at scale, ensuring our clients can innovate responsibly while maximizing the potential of their proprietary data.”
VDR transforms disparate data silos into a centralized and secure repository, allowing enterprises to manage, secure, and optimize their intellectual property. It offers immediate value from Veritone’s 20+ award-winning applications and supports custom AI solutions and development needs, including training and fine-tuning AI models. Additionally, it provides opportunities for data monetization through third-party licensing.
In the rapidly evolving AI landscape, VDR meets the growing demand for high-quality datasets essential for AI advancement. It covers diverse content areas, including education, foreign language, sports, TV, film, podcasts, and audio descriptions. The solution ensures full control over data privacy and security, with enterprise-grade encryption, GDPR compliance, and SOC2 certification, providing peace of mind while unlocking new avenues for AI innovation and revenue generation.