SoundHound AI Expands Partnership with Apivia Courtage, Revolutionizing Customer Service with Amelia 7 AI Platform

What's Going On With SoundHound AI Stock Wednesday? - SoundHound AI (NASDAQ:SOUN)

SoundHound AI (NASDAQ:SOUN) has partnered with Apivia Courtage, a subsidiary of France's AEMA Group, a leading mutual insurance group, to deploy agent-based artificial intelligence across its customer service operations using the Amelia 7 platform. Apivia Courtage plans to integrate Amelia 7, one of the first fully agentic AI platforms, into its contact centers as part of a broader digital transformation strategy. The rollout follows a successful earlier deployment of SoundHound's AI technology, which boosted Apivia Courtage's contact center productivity by 20% through automation of routine customer inquiries. Also Read: SoundHound AI Acquires Interactions To Expand Enterprise Voice Solutions Since 2023, SoundHound and Apivia Courtage have collaborated to introduce AI-powered agents capable of managing high call volumes related to insurance reimbursements and coverage information. With the new Amelia 7 upgrade, Apivia Courtage will scale its AI operations to autonomously handle advanced, multi-intent customer queries. The agentic AI system can reason, act, and complete complex tasks, allowing customers to resolve issues, such as updating personal details, verifying identity, or calculating contract adjustments, without needing to speak to a human representative. Apivia Courtage will present its Amelia 7 pilot at the Reavie conference in Cannes from October 8 to 10. SoundHound AI stock has dropped over 8% year-to-date. It failed to reach the consensus revenue estimate in at least one out of the last three quarters. However, the voice AI specialist remain engaged in unlocking new value through a series of strategic moves, including a partnership with Red Lobster to deploy its AI-powered phone ordering agents across all restaurant locations. The deal follows SoundHound's acquisition of Interactions Corporation, which analysts say broadens its enterprise reach and creates strong cross-selling opportunities. H.C. Wainwright's Scott Buck reaffirmed a bullish outlook, highlighting SoundHound's path toward profitability by late 2025. Price Action: SOUN shares are trading higher by 0.55% to $18.30 premarket at last check Wednesday. Read Next: AI's $1.2 Trillion Growth Will Rest On Data Centers And Power, Not Financing Schemes Photo by Tigarto via Shutterstock SOUNSoundHound AI Inc$18.300.55%OverviewMarket News and Data brought to you by Benzinga APIs

Why SoundHound AI Stock Soared Wednesday Morning | The Motley Fool

The catalyst that drove the artificial intelligence (AI) specialist higher was the revelation that an existing customer was expanding its relationship after experiencing a dramatic productivity increase. Late last year, SoundHound AI acquired enterprise AI software company Amelia to expand its reach in conversational AI. At the time, the pair cited "a distinct competitive advantage in the burgeoning conversational AI space." That acquisition is paying off. In a press release that dropped on Wednesday morning, SoundHound announced that insurer Apivia Courtage, a division of privately held AEMA Group, would adopt the Amelia 7 AI agent platform for its contact centers as part of the company's digital transformation. Citing the duo's existing "successful relationship," which began in 2023, Apivia noted that SoundHound's Amelia platform had already driven a 20% productivity increase at its contact centers. The company also pointed out that SoundHound's AI Agents had "handled thousands of calls" related to medical expense reimbursement and insurance, allowing human agents to focus on higher-level tasks. This represents a huge vote of confidence for SoundHound's Agent AI system, which could ultimately attract other enterprise users. Investors no doubt viewed this as a positive development. After losing more than 60% of its value to kick off the year, SoundHound has come roaring back, gaining 157% since its bottom in mid-April, though it's still underwater year to date. The rebound was partially driven by the company's blistering financial results. In the second quarter, SoundHound delivered record revenue of $42.7 million, up 217% year over year. That said, investors shouldn't overlook the fact that its loss per share of $0.19 worsened compared to an $0.11 loss in the prior-year quarter. There's also SoundHound's valuation to consider, as the stock is selling for 37 times next year's expected sales. That, combined with the company's continuing losses, shows that SoundHound AI stock isn't without risk.