Demand for artificial intelligence (AI) technologies has been rising like never before. Companies across industries are developing and adopting cutting-edge AI technologies and integrating them into their core offerings, to improve productivity and enhance cost efficiencies. Considering its transformative potential, it is not surprising that AI has also emerged as a major investment trend in the stock market.

However, not all AI stocks can generate lasting wealth. Investors must focus mainly on AI-powered stocks with sustainable competitive advantages in their respective market niches and rapidly improving financials. Two innovative AI companies, SoundHound AI (NASDAQ: SOUN) and Symbotic (NASDAQ: SYM), fit the bill. Here's why select analysts may see huge growth potential in these stocks.

As a prominent AI player focused on speech recognition, SoundHound has seen its share price soar by nearly 128% in 2024. However, the stock may rally even more in the coming months, thanks to its customizable AI-powered voice and speech solutions and strong go-to-market strategy. The company is building a strong presence in the customer service, automotive, and quick-service restaurant markets.

Continue reading

Source Fool.com