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SoundHound AI (SOUN) Launches Smart Answering for Businesses
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SoundHound AI (SOUN - Free Report) recently launched a new service called Smart Answering that allows businesses to use its powerful voice AI for customer service. It is a fully automated, AI-driven call-answering system that can handle multiple calls at once and deal with customer queries instantly and accurately.
Smart Answering uses SoundHound’s advanced speech recognition, natural language understanding, and Generative AI to create tailored, conversational responses based on the company’s website information. It can also send SMS, take messages or transfer calls to a human agent if needed.
The offering aims to help businesses save time and money by optimizing human labor and providing 24/7 customer service. It helps businesses cater to the evolving preferences of consumers, who prefer customer service to be automated across channels.
Strong Product Portfolio to Aid SoundHound’s Prospects
SoundHound rides on a strong product portfolio leveraging the power of conversational AI to create AI-driven products like Smart Answering, Smart Ordering and Dynamic Interaction.
The adoption of AI-powered communications and business solutions has been strong recently. SoundHound has been expanding its market from 1 million restaurants to over 20 million businesses in the United States alone by offering its AI-driven customer service solutions to businesses across industries.
The company has been leveraging Generative AI capabilities to improve its voice-based ecosystem. Its solutions combine with Generative AI to deliver enhanced speed and accuracy in numerous languages to product creators across automotive, TV and IoT industries. This is expected to have increased the adoption of its proprietary voice AI platform, driving the top line.
SoundHound continues to invest in AI across its portfolio. Its newly launched Chat AI platform for automotives combines with voice AI resulting in better adoption and user experience among automotive customers.
SoundHound’s partnerships with companies like Qualcomm (QCOM - Free Report) aided in delivering its solutions on automotive devices and services on a global scale. Qualcomm has integrated voice AI on its chipset with the Snapdragon Digital Chassis and showcases it on the concept vehicle.
SOUN’s prospects in the conversational AI space is expected to be bright as reflected in its strong global customer base. Companies like SNAP (SNAP - Free Report) and Netflix (NFLX - Free Report) leverages on its voice AI solutions to enhance their product portfolio.
It allows SNAP to automatically generate captions for videos recorded on Snapchat, letting users to add text overlays that match their voice and enhance their stories. Netflix benefits from SoundHound’s technology as it provides voice control and search capabilities for Netflix’s streaming service on devices such as set-top boxes and smart TVs.
SoundHound expects 2023 revenues between $43 million and $50 million, indicating a year-over-year growth of 49.4% at midpoint.
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SoundHound AI (SOUN) Launches Smart Answering for Businesses
SoundHound AI (SOUN - Free Report) recently launched a new service called Smart Answering that allows businesses to use its powerful voice AI for customer service. It is a fully automated, AI-driven call-answering system that can handle multiple calls at once and deal with customer queries instantly and accurately.
Smart Answering uses SoundHound’s advanced speech recognition, natural language understanding, and Generative AI to create tailored, conversational responses based on the company’s website information. It can also send SMS, take messages or transfer calls to a human agent if needed.
The offering aims to help businesses save time and money by optimizing human labor and providing 24/7 customer service. It helps businesses cater to the evolving preferences of consumers, who prefer customer service to be automated across channels.
Strong Product Portfolio to Aid SoundHound’s Prospects
SoundHound rides on a strong product portfolio leveraging the power of conversational AI to create AI-driven products like Smart Answering, Smart Ordering and Dynamic Interaction.
The adoption of AI-powered communications and business solutions has been strong recently. SoundHound has been expanding its market from 1 million restaurants to over 20 million businesses in the United States alone by offering its AI-driven customer service solutions to businesses across industries.
The company has been leveraging Generative AI capabilities to improve its voice-based ecosystem. Its solutions combine with Generative AI to deliver enhanced speed and accuracy in numerous languages to product creators across automotive, TV and IoT industries. This is expected to have increased the adoption of its proprietary voice AI platform, driving the top line.
SoundHound continues to invest in AI across its portfolio. Its newly launched Chat AI platform for automotives combines with voice AI resulting in better adoption and user experience among automotive customers.
SoundHound’s partnerships with companies like Qualcomm (QCOM - Free Report) aided in delivering its solutions on automotive devices and services on a global scale. Qualcomm has integrated voice AI on its chipset with the Snapdragon Digital Chassis and showcases it on the concept vehicle.
SOUN’s prospects in the conversational AI space is expected to be bright as reflected in its strong global customer base. Companies like SNAP (SNAP - Free Report) and Netflix (NFLX - Free Report) leverages on its voice AI solutions to enhance their product portfolio.
It allows SNAP to automatically generate captions for videos recorded on Snapchat, letting users to add text overlays that match their voice and enhance their stories. Netflix benefits from SoundHound’s technology as it provides voice control and search capabilities for Netflix’s streaming service on devices such as set-top boxes and smart TVs.
SoundHound expects 2023 revenues between $43 million and $50 million, indicating a year-over-year growth of 49.4% at midpoint.