Shares of Veritone (VERI) are spiking higher in afternoon trading after announcing “breakthrough real-time artificial intelligence capabilities” earlier today. WHAT’S NEW. Veritone, a provider of artificial intelligence and cognitive solutions, announced the upcoming launch of a market-first update to its AI operating system, aiWARE, which will enable the platform to support real-time AI processing. The aiWARE real-time framework is scheduled to launch this month with natural language processing engines, and Veritone plans to expand its offering of real-time enabled engines across the rest of the company’s 15-plus cognitive categories, including transcription, sentiment, visual moderation, translation, as well as object, face, and optical character recognition, “If AI can help us make a decision in a matter of seconds, we will have a powerful tool to help prevent worst-case-scenarios. For example, surveillance cameras near a school could capture faces and license plates of persons approaching the school, and recognition engines could match them in real-time against a database of potential offenders,” said Mike James, executive director at the Integrated Law and Justice Agency of Orange County. PRICE ACTION: Shares of Veritone are up 16.4% or $2.15 to $15.31 in afternoon trading
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