Ekam mantra is a siddha mantra. Siddha mantras are rare mantras that have immense power built into them. Siddha mantras can be chanted anywhere, anytime, with any intention. Millions of seekers from across the globe are testimonies to the power of the Ekam mantra. You can chant the Ekam mantra for the attainment of any intention, you can chant it for your spiritual evolution or you can even chant the Ekam mantra to move into a state of trance or expansiveness.
This chant explains the state of ekam, the state of non duality or oneness. Sri Preethaji and Sri Krishnaji believe that all that exists is one, the all-pervasive field of consciousness that manifests as all matter, life, and energy. There is nothing other than one undifferentiated field of consciousness. They call this one force, one field, and one consciousness, as the Universal Intelligence.
Hamsa in the chant means I am one with the Universal Intelligence. I do not exist separate from it.
Sohum means the Universal Intelligence is one with me. The Universal Intelligence cannot exist independent of me.
Ekam means the one. All there is, is the one. All there is is the Universal Intelligence.