SoundHound AI SOUN Partners With Peter Piper Pizza To Enhance Ordering Experience

How edge AI is building the future of finance

Enhancing Customer Engagement in Financial Services with AI

However, the consistency of the share movement and earnings development will remain central in realizing this target as the company navigates its future growth landscape. SoundHound AI saw a price movement of 46% over the last quarter, partly influenced by its recent collaboration with Peter Piper Pizza, which improved customer service via conversational voice AI technology. This initiative likely enhanced the company’s market presence at a time when overall market performance was relatively flat, with a mixed response to political uncertainties like the situation involving Fed Chair Jerome Powell. Further bolstering SoundHound’s position was a robust Q1 earnings report, including significant gains in sales and net income, offering optimism despite challenges like its removal from major indices. For example, a large local retailer recently deployed a WhatsApp chatbot enabling customers to check promotions, promoting their Mobile Application use, locate stores and enquire about stock availability.

V is fueled by continued increases in payments, cross-border volumes and sustained investments in technology, and is witnessing significant profit growth. For the seventh year running, Nutanix commissioned a global research study to assess the state of enterprise cloud deployments, application containerisation and GenAI adoption. While these advancements may seem ambitious, the journey toward a fully integrated customer experience is well underway. Businesses that embrace this evolution now will remain at the forefront of innovation and customer satisfaction. Innovative technology and next-generation communication platforms have the potential to play a critical role in empowering South African businesses.

Infrastructure built for innovation

  • Over the longer term, SoundHound’s share price has increased by 207.07% over three years.
  • V has embedded AI and generative AI into over 100 products, primarily for fraud prevention and cybersecurity.
  • Visa’s strategic acquisitions and alliances are fostering long-term growth and consistently driving revenues.
  • Each data center powering large language models like ChatGPT consumes as much energy as a small city.

However, the more human-like and nuanced AI agents become, the more reliant customers will become on AI agents. Even still, financial institutions need to remain human-centric, especially for emotionally fraught transactions such as buying a first home or investing for retirement. A customer opens a chat on your online banking site and asks for their credit card balance. But an AI agent could not only check the balance but analyze the customer’s full financial picture across different accounts and institutions and then deliver suggestions on how to pay off the credit card. Chatbots are getting better and better at answering simple customer queries. But they are ubiquitous and don’t differentiate one financial institution from another.

  • For example, a large local retailer recently deployed a WhatsApp chatbot enabling customers to check promotions, promoting their Mobile Application use, locate stores and enquire about stock availability.
  • This data-driven approach enables faster, more accurate decisions and opens up new opportunities for personalized financial products.
  • Expansion in cross-border volumes, rising digital transactions, and investments in AI and stablecoin infrastructure enhance V’s prospects.
  • The Zacks Consensus Estimate for current-year earnings has improved 0.1% in the last seven days.

Offshore locations are playing a pivotal role, serving as innovation hubs where companies pilot and scale AI solutions before rolling them out globally. As AI becomes more sophisticated, ethical considerations and data privacy are moving to the forefront, prompting organizations to invest in transparent, trustworthy AI systems. The competitive landscape is evolving quickly, with partnerships between traditional financial institutions and tech firms becoming more common.

Enhancing Customer Engagement in Financial Services with AI

How Voice AI Improves Customer Experience

The platform further supports customer engagement with AI-powered chatbots, social banking integration and an Arabic-first, inclusive user experience to encourage widespread adoption. Resilient consumer spending has benefited providers of financial transaction services, contributing to increased transaction volumes and higher revenues. The continued growth of e-commerce, supported by broader Internet penetration and widespread smartphone use, will likely sustain strong consumer spending. Moreover, continued technology investments and expected interest rate cuts support long-term growth and innovation across the space. Operating from London, CCS provides receivables management services to public sector and utility clients.

However, generative AI has the capability to ingest even more vast amounts of data from multiple data sources and third-party applications. Financial institutions can use generative AI to buildAI agents that deliver sophisticated reasoning and solve complex, multi-step customer problems. The AI agent can autonomously perform certain defined tasks, such as reconciling financial statements or drafting detailed responses to customer questions.

Paychex recently announced a partnership with SoFi to integrate financial well-being resources into its Paychex Flex® Perks program, enhancing employee benefits. As the broader market, including the S&P 500 and Nasdaq, reached record highs, Paychex experienced a price movement of 1.8% decline over the last quarter. During this period, Paychex declared a significant dividend increase and repurchased shares, asserting its commitment to shareholder value.

Enhancing Customer Engagement in Financial Services with AI

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Enhancing Customer Engagement in Financial Services with AI

This platform, now enhanced with AI capabilities, ensures that assessments of a customer’s ability to pay are balanced with regulatory requirements and best practices for protecting vulnerable individuals. The Company’s long-standing commitment to responsible collections is aligned with evolving UK regulatory frameworks, where affordability assessments are now a mandatory element of consumer protection standards. The ongoing shift to digital payments is advantageous for Visa, with strong domestic volumes supporting its overall performance. With fraud cases on the rise and AI adoption increasing, V’s services are in high demand. V has embedded AI and generative AI into over 100 products, primarily for fraud prevention and cybersecurity.

Enhancing Customer Engagement in Financial Services with AI

This has resulted in enhanced digital engagement and improved customer convenience. At the same time, leading banks and financial institutions across South Africa are in various stages of AI-powered chatbot deployment, which is transforming use cases from basic FAQs to transactional banking and advanced conversational banking. AI’s impact on financial services is only beginning to unfold, with new applications and business models emerging at a rapid pace. Staying informed about these developments is essential for anyone looking to understand the future of finance, whether from an investment, operational, or strategic perspective. As technology continues to evolve, so too will the opportunities and challenges it brings to the global financial ecosystem. Artificial intelligence is rapidly transforming the financial services landscape, driving efficiency, innovation, and new business models across the globe.

Enhancing Customer Engagement in Financial Services with AI

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These companies are increasingly adopting high-end artificial intelligence (AI) technologies to provide a secure, top-quality service. Omnichannel communication fosters a cohesive and engaging customer experience, enhancing relationships and business outcomes. It allows companies to effectively segment and serve audiences, ensuring seamless interactions across platforms. By prioritising omnichannel communication, businesses can expand their reach and strengthen connections in a competitive landscape. As these technologies continue to evolve, their role in enhancing customer engagement and optimising business operations will further solidify their role in South Africa’s digital transformation landscape. The impact is evident, particularly in sectors such as finance, retail, healthcare and agriculture, where tangible benefits are emerging.