EXCLUSIVE: 'Restaurants Are To SoundHound AI What Books Were To Amazon,' CEO Tells Benzinga

In an exclusive interview with Benzinga, Keyvan Mohajer, CEO of SoundHound AI Inc. SOUN, shed light on the company’s recent endeavors and its vision for the future.

SoundHound AI is rapidly advancing its footprint in the AI landscape, as underscored by Mohajer during the interview. The company’s innovative approach is capturing attention across multiple sectors, from automotive to hospitality, with its cutting-edge voice AI technology.

SoundHound AI's Cutting-Edge In-Car Voice AI

SoundHound AI has made waves with the deployment of its Chat AI voice assistant in European automotive brands, showcasing its market agility.

As Mohajer proudly states, "Not only were we the first voice assistant provider to integrate generative AI, we were also the first to pilot and launch anywhere in the world."

This cutting-edge in-car voice AI has been launched with six major automotive brands, witnessing a significant rise in usage. Mohajer highlights this success: "Agility and quality are tough to achieve in tandem, but thanks to our long history in voice AI and our highly extensible platform, we've achieved it."

‘Our OEM Partners Really Value This’

The partnership with Stellantis NV STLA is a pivotal milestone for SoundHound AI. Mohajer explains, "We've been working with the automotive industry for nearly a decade, and now millions of vehicles across the globe use our in-vehicle voice assistant in more than 20 languages." This long-standing experience allows SoundHound to manage risks and deliver value. "Our OEM partners really value this," Mohajer adds, emphasizing the company’s unique offering of control over brand and data.

SoundHound AI’s expansion into 17 markets by the end of July highlights its growing influence. The company’s voice technology integrates vehicle controls and real-time data with generative AI responses, offering a seamless user experience.

"What is new for the company is that more auto brands in those markets are fully embracing our category-leading assistant, which combines vehicle controls, real-time data (like weather and navigation), and generative AI responses," Mohajer said.

With enthusiastic responses from OEMs globally, SoundHound AI is setting a new standard in the automotive AI landscape, solidifying its competitive edge.

Read Also: What’s Going On With SoundHound AI Stock?

‘Restaurants Are To SoundHound AI What Books Were To Amazon,’ Says CEO

SoundHound AI is also making waves in the restaurant industry, with over 10,000 locations already using its AI technology.

Mohajer likens the company's foray into AI customer service to Amazon’s early book sales, stating, "Restaurants are to SoundHound AI what books were to Amazon. In time, we look forward to using our extensive AI know-how and leveraging the very latest technology to provide best-in-class solutions right across industries."

The company’s AI now supports various industries, including fitness and personal care, with over 100,000 locations in the pipeline. Mohajer is confident about the future, saying, "We believe AI customer service will be as necessary to every business as wifi and electricity and that creates an incredible opportunity for SoundHound."

Eyeing A $100B TAM In North America Alone

SoundHound AI’s multi-industry approach is built on a three-pillar revenue strategy. "At SoundHound we have a three pillar revenue strategy… we provide a branded digital assistant like SoundHound Chat AI to physical products like cars (as discussed), but also TVs, and smart devices," Mohajer said.

The strategy not only involves providing voice-enabled products, but also AI customer service solutions that operate on a subscription model.

"We're also seeing huge growth in this area, often driven by labor shortages. We estimate its size to be a $100 billion TAM in North America alone," he noted.

SoundHound’s ambitious plans aim to create a seamless voice commerce ecosystem, ultimately generating new revenue streams while enhancing user experience. "We're building the voice commerce ecosystem of the future, and the revenue of this pillar is monetization revenue," Mohajer said.

As SoundHound AI continues to evolve and expand, investors should monitor its strategic partnerships, global market entries, and industry-specific implementations to gauge the company’s future potential and market position.

Read Next:

• EXCLUSIVE: SoundHound’s AI Voice Technology Revolutionizes Restaurant, Automotive Industries

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