Veritone (VERI) was Named the best artificial intelligence by the media excellence awards for 2021.
Specifically their synthetic voice and deep fake product or “Voice as a service” (VaaS).
I haven’t touched on the VaaS Side of Veritones business much as I believe this is still an early and unrealized market, bite worth recognition in form of a major media award, some of the value may be beginning to be realized.
VERI‘s AI solutions are unique to each used case, and their primary objective is creating are the best artificial intelligence and artificial intelligence operating system which is application agnostic— however, if I believe there is enough of a market in voice as a service alone to be transformative and offers near infinite expansion.
Veritone uses synthetic voice technology and Conversational AI to Create a synthetic and digital twin of a person’s voice.
If anyone had a chance to watch the Mandalorian series, this is the technology that was used to create spoiler alert young Luke skywalker’s voice.
If that gives a little glimpse into the potential market, Veritone‘s artificial intelligence synthetic voice also has translation services into over 150 languages.
Veritone‘s founders have 25 years in advertising and data centric advertising technology— this is one to watch and see how they execute on monetizing synthetic boys and translation to create advertising revenue across multiple industries, including traditional advertising and digital/Metaverse world.
Essentially, in an Omniverse your sneaker shop could create Michael Jordans digital twin with his actual voice and authentic tone interacting with customers using Veritone’s deep fake voice technology and conversational AI technology to accurately and realistically engage with customers. And he could do it in over 150 languages.
This is one currently small piece of the business, but it’s a niche they are the leader in and one area I think could provide explosive growth over the next 2-20 years.
Previous posts on Veritone for background:
We will see some of the risks outline and addressed by Saul and bear in response to the above link—
I think some of the risks and watchouts are the size of Veritone— still a small company— the revenue is less stable as the majority is not ARR. Recent acquisitions, though they seem very positive for the business and acceleration in my interpretation, show much larger growth than is organic.
Organic growth for FY 2021 was 41%.
It will be really important to watch organic growth over the next 24 months, as well as momentum in government and regulated industry contracts.
Any misses or lack of momentum will be a big red flag.
Best of luck.