In a world where deception costs businesses billions, a groundbreaking Czech startup, Veriteus, is stepping up with an innovative AI-powered deception detection software. Leveraging multimodal AI technology, Veriteus is transforming industries plagued by fraud, financial crime, and security breaches.
The Problem: The Cost of Lies
Deception is everywhere, and its consequences are staggering. Studies show that the average person lies at least once per day, and businesses face enormous financial losses due to fraud. Some key statistics include:
- Insurance fraud in the U.S. alone amounts to $40 billion annually, raising premiums for millions of households.
- Employee theft accounts for 90% of significant financial losses within companies, leading to corporate bankruptcies.
- Financial institutions face increasingly sophisticated fraud schemes, with over $10 billion lost in 2023 due to cybercrime and money laundering.
- Art crime, a lesser-known but growing issue, sees around 50,000 stolen artworks annually, fueling a black market worth up to $5 billion.
The Solution: AI-Assisted Deception Detection
Veriteus is bringing the power of AI, machine learning, and behavioral analysis into an easy-to-use, software-based solution that requires no specialized hardware. Unlike traditional polygraphs and human-dependent methods, Veriteus utilizes multimodal detection across:
- Audio: Spectral and temporal voice analysis with automated transcription.
- Video: Microexpression tracking, gesture analysis, and posture monitoring.
- Text: AI-driven semantic analysis of responses combined with automated follow-up questions.
With a proven F1-score of over 0.9, Veriteus outperforms existing deception detection tools and ensures real-time, high-accuracy assessments.
Competitive Edge
What sets Veriteus apart from competitors like Lafayette Instrument Company, Converus, and Nemesysco?
- Fully software-based: No need for controlled environments or specialized hardware.
- Scalable and flexible: Can analyze multiple subjects concurrently.
- Self-learning AI: The system continuously improves with each use.
- Compliant with EU AI regulations: Ensuring privacy, security, and future legal adaptability.
Expert Opinions on AI Deception Detection
Artificial intelligence is making significant strides in deception detection, garnering attention from experts and organizations. A study from Arizona State University highlights AI’s capability in identifying deceptive language, noting, “Artificial intelligence now can detect when business leaders are lying or using deceptive language with 84% accuracy thanks to a data-driven machine-learning model.” (news.asu.edu)
Former CIA officer Philip Houston emphasizes the complexity of human behavior in deception, stating, “There’s only a casual relationship between human behavior and logic.”(goodreads.com)
Additionally, the MIT Technology Review reports that “AI-based lie detection systems could one day be used to help us sift fact from fake news, evaluate claims, and potentially even spot fibs and exaggerations.” (technologyreview.com)
These insights underscore the growing recognition of AI’s role in enhancing deception detection across various sectors.
The Team Behind Veriteus
Founded by a team of seasoned entrepreneurs and AI experts, Veriteus is led by:
- Jakub Pavlík (CEO): A leader in stress detection and digital product growth.
- Jan Grmela (CFO & Scientific Advisor): Experienced in business management and legal compliance.
- Jiří Štanglica (CTO): A specialist in AI, server architecture, and machine learning.
- Tomáš Thüringer (COO): A strategist with deep ties in political and business spheres.
- Tomáš Šebesta (CMO): A marketing veteran with over 14 years of experience in brand-building.
Supporting them are renowned advisors like Dr. Jindřich Matoušek (audio research), Dr. Marek Hrúz (video AI), and security expert František Krásnohorský, a former Slovak Intelligence Service officer.
Current Status & Growth Plans
Veriteus is in a critical phase of development, with:
- A MVP (minimum viable product) already developed internally.
- Ongoing research partnerships with the University of West Bohemia.
- Active incubation at BIC Pilsen and Technology Incubation programs.
To accelerate development, Veriteus is seeking strategic partnerships, funding of 20–40M CZK, and access to more real-world and synthetic data for AI training.
Why Veriteus Matters
With increasing threats of fraud and deception in various industries, Veriteus is set to become a game-changer in AI-driven security, finance, and risk management. As the first fully software-based deception detection solution, it offers businesses a powerful tool to prevent losses, enhance security, and build a future of trust and transparency.
For more information, visit www.veriteus.tech.
