SoundHound AI Shares Surge: What’s Driving the Momentum?

Shares of SoundHound AI, Inc. (SOUN) saw a significant uptick on Friday following news of the company’s deployment of its conversational AI agent, Amelia, at Apivia Courtage, part of the AEMA Group. Here’s an overview of what’s fueling the rise.

Key Developments soun stock

In a press release on Thursday, SoundHound AI shared that its AI-driven agent, Amelia, had successfully managed over 100,000 customer interactions in 2024. These calls primarily focused on insurance inquiries, including medical expense reimbursements and policy details. The result: a nearly 20% reduction in the volume of inbound calls previously handled by human agents at Apivia Courtage.

SoundHound AI Shares Surge: What’s Driving the Momentum?
SoundHound AI Shares Surge: What’s Driving the Momentum?

This initiative, which began in January 2023, was designed to streamline operations, boosting efficiency and allowing customer service teams to focus on more complex tasks.

Company Insights

Emmanuelle Nguyen, the CEO of Apivia Courtage, remarked that the integration of AI has not only improved employee productivity but also created a better work environment. Michael Anderson, Executive Vice President of Enterprise at SoundHound AI, highlighted the role of automation in empowering customer service teams to concentrate on more value-driven and complex tasks.

“With AI agents handling routine inquiries, Apivia Courtage employees now have the bandwidth to engage in more rewarding and strategic work. We’re proud to help them provide thousands of high-quality interactions,” said Anderson.

Apivia Courtage, part of the AEMA Group, is one of France’s leading insurance providers, serving over 11 million customers across more than 1,600 agencies and 3,900 brokers. The group generates annual revenue exceeding €15 billion.

“Projects like these underscore the tremendous value AI and automation bring, not just to our clients but also to their customers,” Anderson added.

Stock Performance

At the time of writing, SoundHound AI shares saw a notable 20.6% increase, trading at $8.41, according to Benzinga Pro.