FM allows higher quality audio than AM, along with some other benefits and less interference. This higher quality audio is actually not just a bit better, its a lot better for music and clarity, along with very clean clear talk.
However, AM does have some advantages such as longer range and being easier to both transmit and receive a signal
A deeper, stranger question is why didn’t short wave, which in a broad sense has similarities to AM, basically completely die from a commercial perspective, despite it being open and ready to use
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