The artificial intelligence boom is still accelerating, with no signs of slowing down.
With the global AI market already surpassing $230 billion in 2024, analysts now see a clear path to multi-trillion-dollar expansion creating substantial opportunity for investors.
Within the global market, one of the fastest growing segments is the conversational AI market, for example. Projected to hit roughly $41 billion to $62 billion in market value by 2032, it could surpass $136 billion by 2035, according to Research and Markets.
All thanks to corporate adoption of AI for better customer experiences for faster responses and personalization; automation, which can help boost operational efficiencies; technology advancements, and omnichannel support.
As noted by Research and Markets, “The surge in AI-powered customer support is a primary growth driver, as businesses shift from traditional call centers to efficient, personalized systems handling high-volume inquiries around the clock. Major companies are investing in solutions that not only respond but also execute actions, accelerating market expansion through enhanced efficiency and user satisfaction.”
Look at companies, like SoundHound AI (SYM: SOUN).
Most recently, the company announced a new partnership with OpenTable, a global leader in restaurant tech, to launch a fully conversational in-vehicle voice AI reservations agent – as part of SoundHound’s in-car voice commerce platform.
The new in-car AI agent allows drivers and passengers to find, select, and book restaurant reservations hands-free — all through natural voice commands in their car’s infotainment system. It connects users to its network of over 60,000 restaurants worldwide, checks real-time availability, and secures reservations in moments, transforming what could be a multi-step process into a seamless, spoken interaction that elevates convenience for drivers on-the-go.
Helping, analysts at H.C. Wainwright raised its price target on SOUN to $28 from $18, with a buy rating. Ladenburg Thalmann upgraded the stock to Buy, citing strong voice-AI demand and a rapidly expanding enterprise footprint
In addition, with partnerships spanning Red Lobster, Burger King UK, Peet’s Coffee, Duke Health, Lucid Motors, and BNP Paribas, SoundHound is evolving into one of the most diversified pure-play AI platforms on the market. This is the kind of AI leader that could outperform dramatically in the next leg of the AI rally.
There’s also RingCentral (SYM: RNG).
The global leader in AI-powered business communications, just announced that “Over a million users rely on RingCentral RingEX as a lightweight contact center, enabling employees to respond to customers alongside everyday work,” said Kira Makagon, President & COO, RingCentral. “The future is customer-centric — uniting AI, unified communications, and contact center capabilities. With the Customer Engagement Bundle, we’re empowering every organization to deliver experiences that build loyalty, boost efficiency, and drive growth.”
Roundhill Generative AI & Technology ETF (SYM: CHAT)
With an expense ratio of 0.75%, the Roundhill Generative AI & Technology ETF is the world’s first generative AI ETF. Some of its 38 holdings include Nvidia, Alphabet, Meta Platforms, Microsoft, Oracle, Palantir Technologies and Alibaba Group Holding, to name a few.
All of which help build AI platforms, infrastructure (hardware and semiconductors), and enterprise/consumer software applications.
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Written by Ian Cooper