Industries that are Beneficial from AI Transcription

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image that helps describe AI transcription

The technology of voice recognition coupled with artificial intelligence has been well-integrated into everyday life without being recognised. From voice typing in chat apps to voice controlled personal assistants, people now speak into machines, letting automated transcription do the heavy lifting. Apart from casual usage, AI transcription has become an essential part of the daily grind and the right-hand man for many businesses.

Financial Industry

Telephone transaction is one of the major services provided by financial companies which critical information and customer privacy are involved. Call recording is an international practice within the industry as authorities aim to combat both staff and customer fraud. By instantly converting voice into text, banks are able to monitor live calls to flag mis-selling and rogue trading in real-time. With the ability to derive sentiment and emotion, speech recognition helps evaluate calls for customer satisfaction and compliance as well.

Media and Journalism

Scheduling interviews and creating articles with a tight deadline is a basic routine for any journalists. Fast-moving pen were replaced by portable recorders in the press room, and now AI transcription is the secret weapon for reporters. It allows the journalist to focus on the interview without worrying about note taking. Audio transcription technology help creates precise searchable transcripts which journalist can easily extract important information and quotes while creating copies.

Subtitling and captioning are essential for a video considering audience’s language ability, accessibility, environment or personal preference. Manual transcription of the footage was once a nightmare for all video editors as it is extremely time-consuming, requiring almost 10 hours for a one-hour video clip. AI transcription technology automatically creates subtitles within seconds where subtitles are ready to be placed on the screen after minor editing.

Legal Industry

Lawyers value the details of a testimony and legal statement when performing a thorough cross-examination. A verbatim record of every word in a written form is particularly significant during a legal proceeding. A court reporter was once considered as the only solution when obtaining accurate transcripts of courtroom events, given the technical nature of the testimony. Yet, with the latest technology, AI improves speech-to-text engines that can even transcribe jargon-heavy legal documents and conversation in high accuracy. Significant operational benefits for law firms are recognised as the turnaround time of transcription reduces dramatically. Any edits or corrections on the transcript are fed back to the system via algorithms, allowing it to learn and improve accuracy constantly. Elite Asia offers sound legal transcription services where all transcripts undergo extensive proofreading by selected professionals with empirical knowledge.

Marketing

Organising focus groups is an effective and common measure for marketers when performing market researches. Only by converting audio into text, can all market research data be ready to analyse and distribute. Automated transcription help marketers to cut the process from days down to minutes.

It is nothing but cumbersome taking hours of searching to find two sound bites for content creation or database development. With the video instantly transcribed into a written form, marketers are able to find the exact spot and cut the video clip or pull quotes from a machine-generated transcript simply by searching the keyword.

The capabilities of AI transcription are ever enhancing, enabling businesses to operate in lower cost and higher productivity. It is believed advanced AI recognition technology will be able to analyse combined-stream of data from image to audio in real-time in the future.

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