Giving feedback on speaking ability is one of the most significant and challenging jobs in English language teaching (ELT). This study looks at how AI-driven speech assessment and feedback systems can help ELT teachers with this endeavor. These tools evaluate and analyze student speaking performances using state-of-the-art machine learning algorithms, giving detailed feedback on important components including grammar, eloquence, and articulation. The study goes over the processes by which AI evaluates different speech components as well as the precision and dependability of the feedback given. Our study's empirical findings show that students' speaking abilities significantly increase when AI-based assessment tools are used. Additionally, students' confidence is boosted by the objective and constant feedback provided by AI technologies, which encourages a more proactive and positive attitude to language acquisition. The revolutionary potential of incorporating AI into ELT is highlighted in this research, which suggests that AI-driven technologies can effectively supplement conventional teaching approaches and offer significant advantages to both teachers and students.