NEW YORK and DENVER, May 10, 2023 (GLOBE NEWSWIRE) -- PandoLogic, a wholly owned subsidiary of Veritone, Inc. (NASDAQ: VERI) and a leading provider of artificial intelligence (AI) hiring solutions, today confirmed completion of the most recent bias audit of its AI capabilities, conducted by third-party responsible AI company, Vera. In line with Veritone’s ongoing mission of AI for good, PandoLogic also released a summary of the audit findings and an explainability statement.
For the audit, Vera worked to review PandoLogic’s AI technology and its AI models’ current and future state applications. This included PandoLogic’s programmatic algorithms as well as its use of conversational AI. Following the initial evaluation, Vera tested PandoLogic’s solutions and considered the individual purpose, design and position of each within the company’s AI ecosystem, with an emphasis on areas with greater bias risk factors. The Vera audit concluded that there was minimal risk of PandoLogic’s current AI introducing bias into the recruitment process and that, within certain distributions, the company’s solutions improved access to diverse candidate populations. The summary of findings includes a detailed look at the audit results and a description of PandoLogic’s AI principles and its recommendations regarding best practices for employers.
PandoLogic took these proactive measures ahead of the upcoming enactment of NYC Local Law 144, set to go into effect on July 5, 2023.
Veritone CEO and President Ryan Steelberg commented, “Veritone’s mission is to create a better world through the power of AI, and we are committed to providing software, applications and services that are safe, dynamic, transparent and innovative. PandoLogic is a prime example of the work we are doing, and the findings of this latest audit validate how companies can use AI for good.”
Terry Baker, CEO and President of PandoLogic, said, “Echoing Veritone’s commitment, PandoLogic strives to uphold the ethical use of AI and automation during the recruitment process. As such, we went through this audit to make sure that our AI remains transparent and explainable and to offer our customers resources to help them comply with emerging legislation.”
To learn more about PandoLogic’s use of AI, please visit pandologic.com/pandologics-use-of-ai-explained.
About PandoLogic
PandoLogic is a wholly owned subsidiary of Veritone, Inc. (NASDAQ: VERI), a leader in enterprise artificial intelligence. PandoLogic is a global market leader in programmatic recruitment and generative conversational AI solutions that effectively source, qualify and engage job candidates through intelligent automation. PandoLogic’s customers consistently report significant increases in recruiter productivity, better candidate quality, faster time to hire, and reduced talent acquisition costs. More than a thousand top employers rely on PandoLogic to power their unique, specific recruiting requirements by driving superior, predictable outcomes. To learn more, please visit www.pandologic.com.
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 leading 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 problems of today and tomorrow.
To learn more, visit Veritone.com.
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.
Information contained on PandoLogic's website and set forth in this press release is for general guidance only and does not constitute legal advice or a guarantee of compliance with federal, state or local law. PandoLogic’s summary of audit findings and explainability statement are for illustrative purposes only and are not intended to replace or serve as an employer’s audit of its own use of PandoLogic’s automated employment-decision tools.
