SoundHound Crushed Earnings and the Stock Soared. Here's What Could Come Next.
When I last spoke to you about SoundHound AI (NASDAQ: SOUN) in mid-July, I outlined three reasons the stock could explode to the upside. The stock rocketed 40% since the article was published, assisted by another stellar earnings report. Given the recent action, a debriefing is definitely in order. Let's take a look at what went right and what's next for this up-and-coming artificial intelligence (AI) player.
The first pillar I mentioned in the previous article was the massive market that speech recognition has. Automobiles, drive-thrus, retail, and customer service are some of the largest and most obvious markets. Voice recognition technology in automobiles is advancing rapidly thanks to companies like SoundHound AI. The days of simply saying "play music" and hoping it doesn't make another phone call are gone.
Future voice technology in vehicles will enable complex interactions, such as "give me directions to the highest rated Italian restaurant within five miles of my route home." Quite a step up!
Source Fool.com
