From Nasdaq: 2024-04-11 07:20:00

The use of artificial intelligence (AI) is rapidly growing in various industries, with voice-recognition software emerging as a lucrative opportunity for investors. Big tech companies like Apple, Amazon, Alphabet, and Nvidia are heavily investing in this technology, driving market growth. SoundHound AI’s stock soared 140% this year, reflecting the potential in the voice-recognition market.

Microsoft’s acquisition of Nuance and investment in OpenAI suggest the company’s focus on integrating speech recognition technology across its operating system. OpenAI’s development of Voice Engine, a versatile product with various applications, may pose a threat to SoundHound AI in the future. Microsoft’s strategic moves in AI could lead to significant advancements in voice services.

While SoundHound AI has seen substantial growth, it remains a speculative investment due to its small size and lack of profitability. Microsoft, with its solid position in AI, is likely to excel in the voice-recognition technology market. Investors should consider the long-term potential of companies like Microsoft in this rapidly evolving landscape for AI and speech recognition technology.



Read more at Nasdaq: SoundHound AI Could Have a Serious New Competitor as OpenAI Dives Into Speech Recognition. Here’s The Stock I’m Keeping a Close Eye On.