Veritone IncVERI CEO Ryan Steelberg stresses the importance of guiding the rapid technological advancement in artificial intelligence, claiming, “Technology innovation is way ahead of the appropriate amount of controls and disciplines that governments and their regulators can devise and enforce.”
He emphasizes the responsibility of AI development companies in ensuring safe and transparent deployment of innovations in the sector. Steelberg expressed these sentiments during a recent Benzinga webinar.
He underlines the necessity for companies like Veritone, Amazon.com Inc AMZN, and Microsoft Corporation MSFT to uphold a culture of transparency in AI development. This, he believes, is crucial to ensure that the tools introduced benefit society and legitimate businesses.
Steelberg urges the industry to adopt an ‘AI For Good’ ethos, emphasizing that the utilization of these technologies should not fall into the wrong hands and instead be leveraged to advance society.
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Establishing AI Pedigree
Veritone, founded by Steelberg in 2014, boasts a client base of around 3,500, spanning both public and private sectors. Notable clients include entities like sports network ESPN and film production giant Sony Pictures, along with federal agencies like the Department of Justice.
The company offers enterprise AI solutions through AIWare, a platform launched nearly a decade ago, aiding organizations in building and implementing AI-based applications seamlessly.
Steelberg proudly references Veritone as one of the early entrants in the AI space, tracing its roots back to a time when investor frenzy surrounding AI was not as pronounced as it is today.
He commends competitors like Palantir Technologies PLTR for their success in the ecosystem, particularly in providing AI services to companies lacking internal expertise.
A Unique Cloud Strategy
Veritone sets itself apart with its cloud-agnostic approach, collaborating with major players such as Microsoft’s Azure and Amazon’s AWS without bias towards any specific provider.
With a platform supporting over 450 integrated cognitive models, Steelberg touts the company’s ability to offer tailored solutions across various cloud environments as a significant competitive advantage.
Customer retention serves as a key indicator of Veritone’s quality for Steelberg, noting a high percentage of satisfied clients who continue to utilize the firm’s services.
Looking ahead, Steelberg predicts a shift in AI investment towards practical applications rather than hardware suppliers. He stresses the importance of understanding customer needs and leveraging AI to enhance existing products and services.
While he anticipates a future where certain AI models become standardized, he remains firm in his belief that specialization will remain crucial in catering to diverse business requirements.
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Image generated using artificial intelligence with Midjourney.
