Transcripts are one of the oldest means of documentation. Text documentation became easy and gained popularity when typewriter was first invented way back in 1868. By around year 1900, it was estimated that about 80% of documentation and transcription industry comprised of women workforce in the US. Since then, medical, legal and government record keeping became common in America and most of the European countries. By 1980’s word processors took over, which was the first digital means to transcribe and store documents. Slowly, new computing technologies made its way and transcription became a significant profession.
Today; medical, legal and government organizations are recording enormous volume of video and audio content. Transcription companies around the world are specializing in specific fields and there are many players operating globally. Many companies developed their own automated speech-to-text conversion tools. A good speech-to-text tool can even hit 96% accuracy.
In coming years, with great advancements in speech recognition software, voice-to-text conversion will become even easier. Although, it would take time for machine generated transcripts to match human generated ones in terms of accuracy, a combination of technology and manual intervention will
dominate the transcription process. With the possibility to continuously improve quality of speech-to-text recognition technology by feeding in more and more examples from traditional voice-to-text transcription in to the system, automation will become a more appreciated solution for audio or video transcription.
TranscribeNow’s R&D team has developed an efficient speech-to-text conversion tool, which is continuously improving with more and more information going in for machine learning. With technology coupled with highly experienced transcription workforce, Transcribe-now is now able to deliver error-free transcripts for its customers at quicker turnaround.