10 Best AI Stocks to Buy According to Reddit

8. SoundHound AI Inc. (NASDAQ:SOUN)

Number of Hedge Fund Holders: 11

SoundHound AI Inc. (NASDAQ:SOUN) specializes in voice AI, which is dedicated to enabling businesses to deliver outstanding conversational experiences. Its products include voice assistant platforms, natural language understanding systems, and speech recognition technologies, which serve industries like automotive, television, the Internet of Things (IoT), and customer service.

An illustration of the company’s impact is its Amelia AI Agents. By November 2024, these AI-driven virtual assistants had successfully managed over 100,000 customer calls for Apivia Courtage, which is a leading insurance broker in France. The automation of routine tasks and the provision of efficient customer support by Amelia AI Agents have resulted in a ~20% reduction in the workload for human agents, allowing them to concentrate on more complex issues.

The company’s emphasis on AI has led to remarkable growth, highlighted by an 89.13% year-over-year revenue increase in the third quarter of 2024. As SoundHound AI Inc. (NASDAQ:SOUN) continues to innovate and expand the horizons of AI technology, it is well-positioned for success.