This issue is now resolved.
Here is the latest update from the vendor: We have deployed a fix to address degraded site performance. We are monitoring to ensure latencies have returned to normal levels.
We are aware of a problem with Panopto. Currently the Panopto Cloud service is experiencing slow performance that is impacting playback of videos for courses as well as uploading and processing of new content. The vendor is aware and actively working on resolving the issue. Their current reporting is found here: http://trust.panopto.com/
To clarify, this is not a service outage or interruption.
Please check this alert for updates and a resolution. If you experience problems other than the ones mentioned above, or problems with another service, please report them to the CIS IT Service Center at (401) 863-4357. After business hours, select option 0 to report a critical issue. We apologize for any inconvenience this may cause.