Auddia Engineers Have Successfully Combined Natural Language Processing and the Company’s AI Audio-classification Algorithm to Create a New AI Model
The New Model can be Applied to Podcasts to Deliver Ad-free Listening in Exchange for a Micropayment Shared With Creators
BOULDER, CO, June 27, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire - Opens in new window– Auddia Inc. - Opens in new window(NASDAQ:AUUD) (NASDAQ:AUUDW) ("Auddia" or the "Company"), developer of a proprietary AI platform for audio and innovative technologies for podcasts that is reinventing how consumers engage with audio, announced today that it has successfully combined its AI algorithm with natural language processing in a new audio classification model that can be applied to podcasts to deliver ad-free listening.
Auddia launched its faidr audio Superapp in February of 2022 and recently released faidr 3.0, which adds podcasts and an exclusive content offering branded as faidrRadio. The app utilizes Auddia’s proprietary AI-based audio-classification algorithm to deliver ad-free AM/FM listening. The new AI model, when it is fully rolled out, is expected to be added to faidr to deliver ad-free podcasts.
“We’ve been conducting basic research with natural language processing and exploring how NLP can be combined with our core AI technology for audio content analysis,” said Michael Lawless, CEO of Auddia. “In our current development phase, the ability to deliver ad-free podcasts is a clear application and can be executed within the faidr app, as a SaaS offering to podcast networks, or even an integrated solution for other podcasting apps.”
The Company is considering the applications of its new ad-free podcast model and will announce plans for its launch later this year.
Auddia is planning to launch the faidr 3.0 product in Android in early Q3. iOS users can visit https://apps.apple.com/us/app/faidr/id1567629951 - Opens in new windowto download the faidr 3.0 Superapp.
Visit faidr.com - Opens in new windowfor more information.
About Auddia Inc.
Auddia, through its proprietary AI platform for audio identification and classification and related technologies, is reinventing how consumers engage with AM/FM radio, podcasts, and other audio content. Auddia’s flagship audio superapp, called faidr, brings two industry firsts to the audio-streaming landscape: subscription-based, ad-free listening on any AM/FM radio station and podcasts with interactive digital feeds that support deeper stories and open untapped revenue streams to podcasters. faidr also delivers exclusive content and playlists, and showcases exciting new artists, hand-picked by curators and DJs. Both differentiated offerings address large and rapidly growing audiences with strong purchase intent. For more information, visit: www.auddia.com- Opens in new window
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 about the Company's current expectations about future results, performance, prospects and opportunities. Statements that are not historical facts, such as "anticipates," "believes" and "expects" or similar expressions, are forward-looking statements. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. These and other risks and uncertainties are discussed more fully in our filings with the Securities and Exchange Commission. Readers are encouraged to review the section titled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, as well as other disclosures contained in the Annual Report and subsequent filings made with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Kirin Smith, President
PCG Advisory, Inc.