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    VERI   US92347M1009

VERITONE, INC.

(VERI)
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Delayed Nasdaq  -  01:00 2022-11-25 pm EST
5.900 USD   -2.32%
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Veritone's Second Annual Law Enforcement Transparency and Trust Report Finds Majority of Americans Support Police but Believe Racial Bias Exists

09/20/2022 | 07:06am EST

Study also shows familiarity with law enforcement technology creates 81 percent more trust with the public

Veritone, Inc. (NASDAQ: VERI), creator of aiWARE, a hyper-expansive enterprise AI platform, today announced the findings of its second annual nationwide Transparency and Trust Report, focused on the relationship between law enforcement agencies (LEAs) and the communities they serve. This year’s report includes responses from nearly 3,000 Americans aged 19 and above—represented almost equally by gender, ethnicity, region and political leanings—who provide insight into the broader public opinion on policing in the United States and how new technologies can improve transparency.

“Looking back on media headlines, 2020 and 2021 were a time of uncertainty and division across the country, particularly between civilians and law enforcement, with mass protests and calls to reform, defund, or even abolish the police force,” said Jon Gacek, general manager, aiWARE Enterprise, Veritone. “With comparisons from last year’s findings, we have an opportunity to measure just how far the needle has moved one way or the other. Most importantly, it can inform us as to what can be done to unite us.”

Notable takeaways from the report include:

Police should stay focused on fighting violent crime – A majority of those surveyed (84 percent) want police to focus on responding to violent crimes. When asked which of the following services or situations the local police department should be responsible for, only 42 percent of respondents want police to spend time performing administrative tasks like reviewing reports and 24 percent are in favor of documenting the perceived race of individuals at traffic stops.

Opinions on racism and bias are strong – The majority (64 percent) of those surveyed believe that racial bias still exists in policing, with 55 percent reporting that their local police have not clearly communicated a plan to properly address racial bias and systemic racism. However, 25 percent of people indicate that their level of trust in local law enforcement has increased over the last five years due to greater transparency, showing promise that trust can be bolstered with clearer communication.

Most people support police and agree that policing has become more difficult – Although media headlines can be polarized and divisive, most respondents appear to show sympathy and support for police: 70 percent agree being a police officer in the U.S. has become more difficult over the last five years, with 62 percent believing policing has become politically polarized and 61 percent believing it is possible to support police and be anti-racist.

New police technologies can improve transparency and trust – There are a number of technologies available to help law enforcement become more efficient when processing evidentiary data, responding to different types of calls, and with more objectivity. The results of our survey indicate that the less understanding the public has of these tools, the less likely they are to trust the technology or the police to use it properly. Respondents who are familiar with law enforcement technology are on average 81 percent more likely to have some level of trust in that technology.

Communities need more education on policing – 25 percent of respondents either do not have or do not want to express their opinion on many of the questions about policing and technologies for law enforcement. This potentially indicates the public need for more information, so that individuals can form and feel confident in their opinions.

According to both this and last year’s findings, trust in the use of technology by police could be improved. Veritone has observed that when it comes to everyday tasks like paying bills online, watching Netflix, or doing a quick Google search, many people accept and enjoy the conveniences the use of artificial intelligence (AI) enables, but when it comes to law enforcement, there are far more misconceptions or mistrust—largely due to a lack of understanding. With this information, the stage is set for next year’s report, which will dive deeper into AI and how its interaction with citizens and law enforcement can improve every aspect of public safety.

“Implicit biases exist; whether these develop from personal beliefs, experiences or consuming different media,” added Gacek. “Fortunately, many harmful ones can be healed with conversations, education, technology, training and overall awareness. If a community aims to be a safe, equitable space for all of its residents, then bias and racism cannot have a place in the agencies that protect and serve the public.”

Read the full report here.

About Veritone

Veritone (NASDAQ: VERI) is a leader in enterprise artificial intelligence (AI) solutions. Serving organizations in both commercial and regulated sectors, Veritone’s software, services, and industry applications simplify data management, empowering the largest and most recognizable brands in the world to run more efficiently, accelerate decision making and increase profitability. Veritone’s hyper-expansive Enterprise AI platform, aiWARE™, orchestrates an ever-growing ecosystem of machine learning models to transform audio, video and other data sources into actionable intelligence. Through its robust partner ecosystem and professional and managed services, Veritone develops and builds AI solutions that solve the problems of today and tomorrow.

Safe Harbor Statement

This news release contains forward-looking statements. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate” or “continue” or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Assumptions relating to the foregoing involve judgments and risks with respect to various matters which are difficult or impossible to predict accurately and many of which are beyond the control of Veritone. Certain of such judgments and risks are discussed in Veritone’s SEC filings. Although Veritone believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized. In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Veritone or any other person that their objectives or plans will be achieved. Veritone undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.


ę Business Wire 2022
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Financials (USD)
Sales 2022 151 M - -
Net income 2022 -41,1 M - -
Net cash 2022 10,1 M - -
P/E ratio 2022 -5,35x
Yield 2022 -
Capitalization 214 M 214 M -
EV / Sales 2022 1,35x
EV / Sales 2023 1,23x
Nbr of Employees 546
Free-Float 86,1%
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Number of Analysts 7
Last Close Price 5,90 $
Average target price 7,79 $
Spread / Average Target 32,0%
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Managers and Directors
Chad Edward Steelberg Chairman & Chief Executive Officer
Ryan S. Steelberg President & Director
Michael L. Zemetra Chief Financial Officer, Treasurer & Executive VP
G. Louis Graziadio Independent Director
Jeff P. Gehl Independent Director
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