SAN JOSE, Calif., April 24, 2017 /PRNewswire/ -- Quantum Corp. (NYSE: QTM) today announced it will showcase Veritone Inc.'s multi-engine artificial intelligence (AI) platform in a Quantum StorNext®-managed environment at the 2017 NAB Show. The two companies recently signed an agreement establishing a strategic relationship under which Veritone® aiWARETM ― a hybrid on-premise and cloud version of Veritone's best-in-class, cloud-based AI platform ― will be offered as an integrated solution with Quantum's industry-leading StorNext workflow storage. This combination will allow users to leverage the power of Veritone's cognitive analytics ― along with top cognitive engines in areas such as face detection, object recognition and transcription ― to extract new value from their on-premise video and audio content without having to move it to the cloud. As a result, customers that have made significant investments in on-premise storage and/or have cost or security concerns about storing their content in the cloud will be able to take advantage of Veritone's cognitive capabilities and analytics in a StorNext-based solution.
Artificial Intelligence: Maximizing Data's Value
Analyst firm IDC forecasts that the amount of image and video content created or consumed for entertainment purposes will exceed 40 zettabytes by 2025, approximately four times the amount in 2016.* As media and entertainment organizations look to maximize the value of this growing content, artificial intelligence will play an increasingly important role. Cognitive engines enable users to delve deeper and faster into their content and leverage the results to drive greater business and organizational success. Examples include:
- Creating more customized video-on-demand through more robust metadata tagging of existing content.
- Providing better ROI data to sponsors by identifying where and how often a logo appeared in highlight clips beyond an original broadcast.
- Speeding postproduction work through enhanced context-based search and discovery.
Veritone aiWARE: Delivering Unparalleled Cognitive Intelligence
Veritone aiWARE is a groundbreaking new version of Veritone's cloud-based AI platform. It will enable companies, government agencies and other large organizations to deploy Veritone's cognitive services and applications in a hybrid cloud or on-premise deployment model that brings the power of AI processing from the cloud to customer data behind firewalls, thereby enabling extraction of actionable intelligence hidden within that data.
Quantum-Veritone Combination: Unlocking New Value From Stored Content
Quantum's StorNext-powered workflow storage solutions deliver industry-leading performance and advanced data management in the most demanding media environments. These solutions minimize storage costs through a multi-tier approach encompassing flash, spinning disk, object storage, tape and the cloud, enabling users to retain petabytes of content while providing ready access whenever and wherever that content is needed. Because cognitive engines can deliver greater value with the more data they have to analyze, StorNext is an ideal platform for Veritone aiWARE. The combination of the two will enable users to apply AI to on-premise stored content that previously could not be leveraged for this purpose and to add new content for analysis as the data is captured.
Quantum will be highlighting the benefits of this powerful combination in the company's booth (SL5810) at the 2017 NAB Show in Las Vegas, April 24-27. In addition, over the next few months, Quantum and Veritone will be working to further develop a joint StorNext-aiWARE solution and bring it to market.
Geoff Stedman, Senior Vice President, Products and Solutions, Quantum
"Artificial intelligence offers the opportunity to extract dramatically more value from data in ways that were previously impossible, and even unimaginable in some cases. By providing a unique platform for best-of-breed cognitive engines, Veritone has emerged as a clear leader in AI. We look forward to bringing the benefits of their technology to a broader base of media and entertainment customers, extending Quantum's role as the premier provider of data storage and management solutions in this market."
Quantum is a leading expert in scale-out tiered storage, archive and data protection. The company's StorNext platform powers modern high-performance workflows, enabling seamless, real-time collaboration and keeping content readily accessible for future use and re-monetization. More than 100,000 customers have trusted Quantum to address their most demanding content workflow needs, including large government agencies, broadcasters, research institutions and commercial enterprises. With Quantum, customers have the end-to-end storage platform they need to manage assets from ingest through finishing and into delivery and long-term preservation. See how at www.quantum.com/customerstories.
Quantum, the Quantum logo, and StorNext are either registered trademarks or trademarks of Quantum Corporation and its affiliates in the United States and/or other countries. All other trademarks are the property of their respective owners.
"Safe Harbor" Statement: This press release contains "forward-looking" statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Quantum advises caution in reliance on forward-looking statements. Forward-looking statements include, without limitation, i) Quantum's strategic relationship with Veritone; the anticipated products resulting from the relationship; and the features, performance and benefits of those products, ii) anticipated forecasts, trends and business conditions in relevant markets, including the media and entertainment and artificial intelligence markets; and iii) Veritone's and Quantum's stand-alone product offerings, including aiWARE and StorNext, and their features, performance and benefits. All forward-looking statements are based on information available to Quantum on the date hereof. These statements involve known and unknown risks, uncertainties and other factors that may cause Quantum's actual results to differ materially from those implied by the forward-looking statement. Detailed information about these risk factors is set forth in Quantum's periodic filings with the Securities and Exchange Commission, including, but not limited to, those risks and uncertainties listed in the section entitled "Risk Factors," in Quantum's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on February 2, 2017. Quantum expressly disclaims any obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
*Source: IDC White Paper, sponsored by Seagate, Data Age 2025, April 2017
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SOURCE Quantum Corp.