If you haven’t used them yet, you probably will soon. They communicate with you conversationally, take orders, solve customer service issues, and respond to detailed queries. But they aren’t human.
I’m talking about AI-powered voice-recognition systems that are popping up across multiple industries, such as restaurants (drive-thru, in-person, and phone ordering), automotive, call centers, smart devices, and others. Statista pegs the addressable market as $8.6 billion this year and nearly doubling by 2030 to $15.9 billion.
The adoption is likely to be rapid as the technology is perfected. There is simply too much cost savings for companies not to use it. This is the first reason SoundHound AI could be ready for a massive bull run: tremendous market opportunity.
This post originally appeared at The Motley Fool.