SoundHound AI, Inc., a voice artificial intelligence company, has reported significant strides in its partnership with Apivia Courtage, a French wholesale broker and part of the AEMA Group. The collaboration commenced in January 2023 and has seen the deployment of SoundHound’s Amelia AI Agents to handle customer service calls. AI agents have assisted in managing over 100,000 calls, reducing the volume of direct customer queries to Apivia Courtage’s team by nearly 20%.
The implementation of Amelia AI Agents has focused on addressing customer questions related to medical expense reimbursements and insurance guarantee levels. This technological support has allowed Apivia Courtage to reallocate its human workforce towards more complex tasks and client relationships, enhancing both efficiency and workplace satisfaction. Emmanuelle Nguyen, CEO of Apivia Courtage, highlighted the positive impact of the AI agents, noting improvements in both the quality of work and the workplace atmosphere.
According to Nguyen, the AI deployment is a “textbook case” of how technology can add value to a business. The AEMA Group, which encompasses Apivia Courtage, serves 11 million policyholders and customers and employs over 20,000 individuals. The group collaborates with a network of over 1,600 agencies and 3,900 insurance brokers across France, generating a combined revenue of €15.6 billion.
Michael Anderson, EVP of Enterprise at SoundHound AI, expressed enthusiasm about the project’s success. He emphasized the benefits of AI in routine customer interactions, allowing employees to focus on more rewarding aspects of their jobs.
Amelia agents streamline call management
Amelia AI Agents are designed to optimize end-to-end task handling, improve policyholder self-service, and alleviate the load on contact center agents by addressing repetitive and time-consuming inquiries. The technology supports more than 1,000 daily conversations regarding claims and policies. In other recent news, SoundHound AI has reported promising financial results.
The company’s third-quarter revenue for 2024 reached $25.1 million, exceeding the predicted $22.6 million. This success is attributed to organic demand growth and the impact of recent mergers and acquisitions. Following these developments, SoundHound AI’s management has revised its revenue projections upward for the fourth quarter of 2024 and the entire year of 2025.
The company expects 2025 revenues to range between $155.0 million and $175.0 million, marking a significant increase compared to 2024. H.C. Wainwright has responded to these positive results by raising its price target for SoundHound AI shares to $8.00, maintaining a Buy rating. The company’s solid financial standing, with a robust cash position of $135.6 million and minimal debt, provides flexibility for future growth initiatives or potential mergers and acquisitions.
Despite these developments, it is essential to note that the company’s stock experienced a recent decline. SoundHound AI continues to focus on its strategy for future quarters, prioritizing revenue growth, gross margin expansion, and the pursuit of positive adjusted EBITDA.
