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QUICK ANSWER
"Hi" is a form of "hi", an interjection which is often translated as "hola". "I am" is a form of "I am", a phrase which is often translated as "soy". Learn more about the difference between "hi" and "I am" below.
hi(
hay
)An interjection is a short utterance that expresses emotion, hesitation, or protest (e.g., Wow!).
1. (colloquial) (salutation)
A word or phrase that is commonly used in conversational speech (e.g., skinny, grandma).
I am(
ay
ahm
)A phrase is a group of words commonly used together (e.g., once upon a time).