What’s The Current Demand For AI-Powered Transcription Software Solutions?
The world is full of data. And 90% of the world’s total data was created in the last 2 years.
Let this sink in for a moment: In the past 2 years, we’ve created more data than our human civilization produced since we started writing.
A lot of this data is multimedia files. Whether it is a simple customer call, recording of a meeting, judicial hearing, etc. organizations generate enormous amounts of multimedia files.
Of course, large organizations need to somehow extract value from this stored multimedia content.
1. AMAZON TRANSCRIBE
Amazon offers a transcription service called Amazon Transcribe and offers an API connection, enabling integration with third-party services.
Their transcribe service is an Automatic Speech Recognition (ASR) service which enables the easy speech-to-text capability to AWS applications. It can be used for lots of common applications, including transcription and generation of subtitles on multimedia content.
The AWS and Amazon Transcribe platform make speech-to-text conversion very simple. Just store the multimedia content you want to convert into text on an Amazon S3 server, and you can pull the extracted text via an API connection.
The process is very simple, the only thing to worry about is to make sure to:
· Use proper URL when uploading the file, and
· Specify the format and the language of the input.
In return, the platform will provide a URI to get the results.
The results are saved in the S3 bucket and are identified by this user-specific URI you use to get your results.
SO, WHICH IS BEST?
With so much multimedia that large organizations produce, it’s difficult for traditional, human-powered transcription services to keep up.
This is why companies like Amazon, Google, IBM have come up with their AI-powered transcription software. Some, like Nuance, went a step further and offer end-user oriented transcription packs.
The “Which Is Best” question is hard to answer. And, I don’t think there’s one answer that will suit everybody.
Which AI-powered transcription software solution is best for you, will mostly depend on your needs.
So to answer this question, you’ll want to start with your technical requirements. Then, your interest in using high-code or low-code solutions, and, most importantly, budget restraints.
This is a complex issue, and I’ll be covering the market of AI-powered transcription software in more detail. So, make sure you follow us on Facebook, Twitter, and LinkedIn to get notified when a more in-depth coverage hits the web.
In the meantime, please take a moment to let me know if you have any comments, questions or ideas on the topic.















