Tech Giants Are Investing Heavily (Nov2022) The benefits of real-time transcription
To meet the increasing demand for reliable and accurate transcriptions, technology giants are making huge investments in their transcription technologies. Let’s look at who is doing what in the transcription industry.
In a Nutshell: Real-time transcription
Transcribing is simply the conversion of speech into text. Real-time transcription is also known as verbatim transcription or live transcription. This type of transcription captures every word spoken during an audio or video recording. This type of transcription is used frequently in legal settings such as court hearings or depositions.
Although transcription has been around for centuries now, demand for real-time transcription services is on the rise in recent years due to advancements in speech-to text technology and the proliferation mobile devices.
The benefits of real-time transcription
Businesses and individuals alike are turning to real time transcription services for a variety of reasons. Transcriptions can be used for creating written records of conferences and meetings. This is useful for those who wish to review the events or for those who were unable to attend.
The second is the creation of closed captions or subtitles for videos using transcriptions. This is useful for both deaf and hard-of-hearing people, as well for people who speak other languages.
Third, transcriptions can also be used to create searchable databases for audio and video content. This is useful for those who need to search specific information within large amounts of content. Many video marketers are taking advantage of this feature to enhance their SEO strategy.
Technology companies are investing heavily in becoming more responsive and accessible today and aiming to reach as many people as possible.
This niche is worth billions of dollars annually, so technology giants are eager to invest. Let’s now see who the top technology giants are in this space.
Google’s automatic speech recognition (ASR), technology was first introduced in 2007. Since then, they have continued to improve and develop their offerings. They acquired DeepMind, a machine learning startup, in 2016, which helped them further improve their ASR technology.
Google offers many speech-to-text services and products, including the Google Translate app. This popular tool uses ASR to convert spoken words into text in more than 100 languages. Google’s ASR technology can be found in both the Google Translate feature and voice search within the Google app.
Microsoft has been investing heavily in ASR technology and offers a variety of speech-to text products and services under their Microsoft Azure brand. Azure Speech Services uses ASR technology to translate spoken words into text. It offers many features, including speech recognition and text translation.
Amazon Transcribe is a speech to text service that uses ASR to translate spoken words into text. Amazon Transcribe is very accurate and offers many features, including real-time transcription, speaker recognition and text translation. This tool can learn many transcription facts to help it improve, such as the average time spent on a particular project, the type of projects being requested, and the clientele.