SoundHound AI Inc. has reported significant earnings growth in its second quarter, driven by the increasing adoption of voice-based artificial-intelligence technology in customer service. The company’s revenue surged past analysts’ expectations, reaching $42.7 million, as consumers become more comfortable interacting with automated customer-service agents.
According to the CEO, this shift is driven by businesses of all sizes seeking to leverage AI for voice-based customer service offerings. As a result, SoundHound’s stock has seen a notable surge, reflecting the growing demand for its voice AI technology.
The company’s impressive earnings performance comes as analysts had predicted revenue of $32.9 million for the quarter. The significant beat highlights the growing potential of voice AI in transforming the way businesses interact with their customers.
Source: https://www.marketwatch.com/story/soundhound-earnings-show-a-growing-embrace-of-voice-ai-and-the-stock-is-surging-6fe6b515