The stock of Auddia Inc. (AUUD) was trading at $2.86 in premarket trading, down 5.30%. The last session, Auddia closed at $3.02, an increase of 9.03% or $0.25. AUUD stock fluctuated between $2.71 and $3.90 during trading. Shares exchanged amounted to 10.0 million, significantly above the company’s average daily volume of 54K over the last 50 days.
AUUD stock grew by 11.44% over the past five days, and it decreased by -1.95% over the past three months. So far this year, the AUUD stock has returned -9.58%. On the heels of yesterday’s AI technological advancements milestones, AUUD stock has been consolidating after gaining yesterday.
What were those technological advancements?
Through the development of a proprietary AI audio platform and innovative podcasting technologies, Auddia is reinventing how consumers engage with audio. There are two firsts for the industry offerings by AUUD. One of AUUD’s offerings is the option to listen to live radio with added customized content and no commercial interruptions.
The other service provided by AUUD offers podcasts an interactive digital feed that encourages deeper storytelling and generates revenue for podcasters. Both AUUD’s offerings are targeted at large, rapidly growing audiences with high purchasing intent.
It is within Auddia’s proprietary Artificial Intelligence engine that the company yesterday announced a major leap forward.
- By processing radio content with precise audio and metadata, AUUD lowers the cost of training and validating AI and simultaneously improves accuracy substantially.
- It’s expected that AI-based data processing will begin to scale to thousands of stations, improving the platform’s performance and speeding up onboarding times by a factor of five as AUUD grows.
- By understanding and using more data, AUUD can train its artificial intelligence engine faster and with a lower cost.
- Content identification accuracy is far greater and faster with the new approach.
- With the cost of over $2,100 per hard dollar, AUUD would need to go through this labor-intensive process over five days.
- A more extensive dataset is always better for training AI, but AUUD would have had to spend over $40,000 to process the 1008 hours of radio audio previously.
AUUD’s further plans:
Auddia (AUUD) plans to use the new AI methodology in its trial with Lakes Media and Sonoma Media. As it prepares for its full launch in the second half of 2021, AUUD expects to see consumer interest from Lakes Media and Sonoma Media audiences as well as subscription pricing from both. The trials are scheduled to start soon after the July 4th holiday.
