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SoundHound (SOUN) Enhances Driving Experience With Chat AI
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SoundHound AI (SOUN - Free Report) is expanding its footprint in the automotive industry by introducing its advanced SoundHound Chat AI voice assistant, integrated with ChatGPT, into Peugeot, Opel and Vauxhall vehicles across 11 European markets — including Austria, France, Germany, Italy, Spain and the U.K.
Building on its successful launch with Stellantis DS Automobiles earlier this year, SOUN’s advanced AI technology will enhance the in-car experience for a broader audience, providing hands-free control for navigation, communication and real-time information.
This expansion, set to reach 17 markets by the end of July, underscores SoundHound’s commitment to transforming in-vehicle voice assistance with seamless and interactive AI capabilities. It will cater to the growing demand for sophisticated voice-activated systems among drivers and automakers.
SOUN Leverages Voice AI to Boost Prospect
SoundHound AI’s shares have surged 139.2% year to date compared with the Zacks Computer and Technology sector’s rise of 29.4%. The uptick can be attributed to its commitment to advancing automotive technology through the seamless integration of advanced voice artificial intelligence (AI).
Further expanding its footprint in the automotive sector, SoundHound collaborated with NVIDIA (NVDA - Free Report) .
SoundHound launched an advanced in-vehicle voice assistant leveraging NVIDIA DRIVE, enabling real-time and generative AI capabilities for seamless, offline access to vehicle intelligence and personalized assistance.
In May, SOUN announced a partnership with Perplexity to enhance SoundHound Chat AI, integrating Perplexity’s online Large Language Model (LLM) capabilities for advanced, real-time voice assistant responses.
SOUN’s prospects in the conversational AI space are expected to be bright, as reflected in its expanding clientele. Clients like Olo (OLO - Free Report) and Oracle (ORCL - Free Report) leverage SOUN’s voice AI solutions to enhance their offerings in the restaurant landscape further.
SoundHound AI partnered with Olo to bring its voice AI technology to approximately 77,000 restaurant locations, enabling high-speed, accurate order processing and enhancing the guest experience.
It announced the integration of its Smart Ordering voice AI technology with Oracle MICROS Symphony point-of-sale (POS) for restaurants, enhancing order efficiency and customer experience in the hospitality industry.
The Zacks Consensus Estimate for second-quarter 2024 is pegged at $13.01 million, indicating year-over-year growth of 48.69%. The consensus mark for loss is pegged at 9 cents per share, unchanged in the past 30 days.
For 2024, revenues are expected to be between $65 million and $77 million. The Zacks Consensus Estimate for revenues is pegged at $71.01 million, indicating year-over-year growth of 54.8%.
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SoundHound (SOUN) Enhances Driving Experience With Chat AI
SoundHound AI (SOUN - Free Report) is expanding its footprint in the automotive industry by introducing its advanced SoundHound Chat AI voice assistant, integrated with ChatGPT, into Peugeot, Opel and Vauxhall vehicles across 11 European markets — including Austria, France, Germany, Italy, Spain and the U.K.
Building on its successful launch with Stellantis DS Automobiles earlier this year, SOUN’s advanced AI technology will enhance the in-car experience for a broader audience, providing hands-free control for navigation, communication and real-time information.
This expansion, set to reach 17 markets by the end of July, underscores SoundHound’s commitment to transforming in-vehicle voice assistance with seamless and interactive AI capabilities. It will cater to the growing demand for sophisticated voice-activated systems among drivers and automakers.
SOUN Leverages Voice AI to Boost Prospect
SoundHound AI’s shares have surged 139.2% year to date compared with the Zacks Computer and Technology sector’s rise of 29.4%. The uptick can be attributed to its commitment to advancing automotive technology through the seamless integration of advanced voice artificial intelligence (AI).
Further expanding its footprint in the automotive sector, SoundHound collaborated with NVIDIA (NVDA - Free Report) .
SoundHound launched an advanced in-vehicle voice assistant leveraging NVIDIA DRIVE, enabling real-time and generative AI capabilities for seamless, offline access to vehicle intelligence and personalized assistance.
In May, SOUN announced a partnership with Perplexity to enhance SoundHound Chat AI, integrating Perplexity’s online Large Language Model (LLM) capabilities for advanced, real-time voice assistant responses.
SOUN’s prospects in the conversational AI space are expected to be bright, as reflected in its expanding clientele. Clients like Olo (OLO - Free Report) and Oracle (ORCL - Free Report) leverage SOUN’s voice AI solutions to enhance their offerings in the restaurant landscape further.
SoundHound AI partnered with Olo to bring its voice AI technology to approximately 77,000 restaurant locations, enabling high-speed, accurate order processing and enhancing the guest experience.
It announced the integration of its Smart Ordering voice AI technology with Oracle MICROS Symphony point-of-sale (POS) for restaurants, enhancing order efficiency and customer experience in the hospitality industry.
Conclusion
The Zacks Rank #3 (Hold) company’s robust portfolio and strong partner base are expected to boost its top-line growth. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
The Zacks Consensus Estimate for second-quarter 2024 is pegged at $13.01 million, indicating year-over-year growth of 48.69%. The consensus mark for loss is pegged at 9 cents per share, unchanged in the past 30 days.
For 2024, revenues are expected to be between $65 million and $77 million. The Zacks Consensus Estimate for revenues is pegged at $71.01 million, indicating year-over-year growth of 54.8%.