Using AI to transcribe audio and video files can significantly reduce upfront transcription costs. However, hiring human transcribers to edit software-produced transcripts may still be necessary to ensure accuracy.
The Length of the File
Transcription is the process of converting audio or video files into written text. It requires careful listening and typing to capture content and context accurately. AI transcription software can have lower accuracy rates than human transcribing, especially for content with overlapping voices, background noise, or accents. However, tools are engineered with accurate speech-to-text algorithms that guarantee 90%+ % accuracy.
One of the most significant benefits of AI transcription is that it can save time. Human transcription can take hours or days, but automated software can produce a transcript in minutes. This is ideal for projects with tight deadlines or heavy workloads.
When shopping for an AI transcription tool, consider the size of the files you plan to transcribe. Most tools offer subscriptions or charge by the minute, so do the math before purchasing. Also, check that the software accepts the file formats you use and exports in the format you need. Also, remember that some services specialize in certain areas, such as medical terminology, which may increase their price.
The Type of File
When considering AI transcription rates, you must consider the file type you will submit. For example, some services offer different pricing structures based on the length of the file and other details such as timestamps or formatting requirements (like full verbatim transcripts). This can significantly increase your transcription costs.
The quality of the file can also have an impact on the accuracy of the transcript. If the audio has a lot of background noise, accents, or jargon, it will be more difficult for an AI transcriber to convert it to text accurately. This is especially true for medical transcription, where accuracy is crucial.
Some companies even pair human transcriptionists with their AI software, which can further reduce transcription costs by minimizing the editing needed. This way, organizations can get the best of both worlds — accuracy and efficiency.
AI transcription is a valuable resource for businesses and individuals. It saves time and money by automating a manual process. In addition, it provides accessibility and searchability to an archive of audio and video recordings. However, the accuracy of an AI-generated transcript can be impacted by the speaker’s accent, pronunciation, and jargon. This can lead to a loss of information, which is critical for some industries that require strict documentation and regulatory compliance.
Most AI transcription tools are trained on vast data sets, allowing them to transcribe multiple languages accurately. They can also recognize varying accents and dialects. Additionally, they can understand industry jargon and terms.
This enables them to be used in any business environment. Most AI transcription software is easy to use and can be integrated into popular meeting apps. However, finding one that’s reliable and will work well with your specific business needs is essential. For example, you may need a solution to differentiate speakers and provide timestamped transcripts. Or, you may need one that can handle medical language.
The Complexity of the File
When the production of a video shoot wraps up, and the rushes are offloaded into storage, post-production processes kick in to organize and enrich the content for use in marketing campaigns or internal company communications. One standard enrichment process is transcription, which turns audio or video files into readable text. While transcriptions are often used to provide captions for media, they can be helpful for a wide range of other applications.
AI transcription software uses algorithms to analyze and convert a digital signal into transcribed text, saving time and money. However, this technology has its limitations.
For example, accuracy may be less than perfect, especially in specific contexts like legal proceedings where errors can have serious consequences. Additionally, AI transcripts offer flexibility and adaptability different from human transcribers to cater to specific formatting requirements.
To address these limitations, some transcription companies — like Iconik — employ an additional layer of human review to ensure that every software-produced transcription is accurate. Doing this increases transcription accuracy and reduces editing time, lowering overall costs even further.
The Type of Transcriber
Many AI transcription systems require initial setup, training, and customization for optimal accuracy. This can be costly and time-consuming.
Human transcriptionists can understand context and nuances and adapt to terminologies and regional jargon that are difficult for software to recognize. They can also adjust their transcripts to meet specific formatting requirements and provide quality control for their work.
For example, some companies offer two human transcribers to review every software-produced transcript. They do this to ensure high accuracy levels and eliminate ambiguities that software could overlook. This allows them to reduce transcription rates by a significant amount.
AI transcription uses speech-to-text technology to convert audio or video files into written text. It is a faster and more cost-effective option than manual transcriptions and can be used for various purposes. It can benefit individuals who are deaf or hard of hearing and help make videos more accessible to international audiences.