Voice synthetic intelligence (AI) options from SoundHound AI have been deployed by seven of the highest 20 quick-service eating places (QSRs).
These QSRs and different eating places are utilizing the expertise for drive-thru, cellphone ordering, kiosks, cell apps and for supporting their employees, SoundHound AI CEO and Co-Founder Keyvan Mohajer stated Tuesday (Nov. 12) throughout the firm’s quarterly earnings name.
“Whereas our clients understand efficiencies throughout the order course of for his or her clients, what they’re additionally enthusiastic about is the upsell per order our resolution is creating for them,” Mohajer stated.
The firm’s voice AI options for cellphone ordering within the restaurant class have dealt with greater than 100 million interactions, which means all these inbound buyer calls had been dealt with completely by AI, Mohajer stated.
Restaurants which are utilizing SoundHound’s voice AI instruments report that the drive-thru utility allows them to just accept orders extra rapidly, the cell app handles each ordering and enterprise queries, and the worker help utility provides efficiencies within the kitchen, Mohajer stated.
These options are resonating with companies of all sizes, Mohajer stated.
“We consider we’re completely the trade chief driving this,” Mohajer stated. “Increasingly more restaurant franchises are coming to us and making an attempt to companion with us.”
Mohajer made these remarks as SoundHound AI reported that throughout the third quarter, its income was up 89% yr over yr, reaching a quarterly document of $25 million, in response to a Tuesday earnings release.
SoundHound AI additionally reported that it diversified its enterprise by way of each clients and industries as extra firms adopted voice AI options.
A yr in the past, the corporate’s largest buyer accounted for 72% of its income; now, its largest buyer accounts for under 12% of its income.
Equally, a yr in the past, 90% of SoundHound AI’s income got here from the automotive sector; now, automotive, eating places, monetary providers, healthcare and insurance coverage every contribute between 5% and 25% of its income.
“Over the previous yr, now we have meaningfully diversified our buyer base, product set, and trade and geographic protection,” SoundHound AI Chief Monetary Officer Nitesh Sharan stated throughout the name. “We’ve got solidified the capital base and prolonged our attain into what’s clearly generational and foundational technological shifts which are solely starting.”
