SOUN - McDonald's Ditches AI Drive-Thru Voice Technology. What Could This Mean for SoundHound AI Stock?
2024-06-19 18:30:00 ET
McDonald's (NYSE: MCD) recently announced that it was ditching its artificial intelligence (AI) -powered voice ordering technology powered by International Business Machines (NYSE: IBM) . Instead, the fast food giant will look to replace the technology with an alternative solution by the end of the year.
Let's look closer at McDonald's decision and what impact it could have on SoundHound AI (NASDAQ: SOUN) , whose voice-powered AI technology has been making a lot of inroads in the restaurant space lately.
McDonald's decision to end its partnership with IBM for automated order-taking technology after a two-year trial comes as a surprise, as the restaurant chain sold IBM the technology powering the solution back in the fall of 2021. McDonald's originally purchased an AI voice start-up called Apprente in 2019 and integrated it into a venture called McD Tech Labs, which it later sold to IBM. Since that deal, it has been testing the technology, which it has deployed at more than 100 locations.
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McDonald's Ditches AI Drive-Thru Voice Technology. What Could This Mean for SoundHound AI Stock?