Artificial intelligence and the many ways it can revolutionize daily life for humans is a hot topic worldwide. Between 2023 and 2030, experts expect that artificial intelligence will yield a 21% net increase on the United States GDP, so it should come as no surprise that business leaders around the world are finding ways to embrace this remarkable new technology.
AI has already streamlined many of the tasks that modern professionals undertake daily. Transcription is one of the many processes made more accessible and efficient thanks to artificial intelligence technology. Speech-to-text converter AI makes it easy for professionals across every industry to generate readable transcripts of their content and communications. Let’s take a closer look at this exciting new technology and discuss the pros and cons of using speech-to-text AI software to generate transcripts and captions of digital media.
How Speech-to-Text Converter AI Works
Most speech-to-text converter tools currently available to consumers use AI software known as automatic speech technology to interpret human speech and represent it as text. ASR software uses advanced language learning models to analyze small chunks of human speech known as phonemes and string them together to form words and phrases. Speech-to-text tools are then trained to represent these words and phrases with corresponding alphanumeric symbols to convert speech to written text effectively.
Thanks to natural language processing in speech conversion, many ASR-powered speech-to-text tools can learn as they go, leading to ongoing advancements in voice recognition algorithms. This kind of deep learning for speech recognition software enables artificial intelligence to hone its accuracy rates and deepen its understanding of the complexities of human communication.
Benefits and Advantages of Speech-to-Text Converter AI
Automatic speech recognition technology can power many devices and complete a seemingly limitless slate of tasks and processes. For example, virtual assistants like Alexa and Siri use ASR algorithms to interpret and respond to verbal commands. Smartphones also use this form of artificial intelligence to provide voice-to-text messaging and other dictation tools.
It is also possible for educators, business leaders and content creators to offer accessibility solutions with speech-to-text technology. Artificial intelligence can help generate captions and transcripts of audio and video recordings to make digital media and communications more accessible to individuals with disabilities. Specifically, captioning and transcription are invaluable resources for those who are Deaf or hard of hearing. These assistive technologies also deliver more equitable content experiences to people with neurodivergent conditions and specific learning needs, as well as anyone else who needs or prefers to engage with information in a written format.
Producing captions and transcripts manually can be tedious and time-consuming. While highly accurate, professional human transcribers are often very expensive to hire and somewhat limited in their bandwidth, making it difficult for professionals to scale their transcription efforts within their desired time frame. However, AI-powered transcription services are generally more affordable and efficient than manual services and can cut back on the labor and resources necessary to complete captioning and transcription projects.
For this reason, many professionals use speech-to-text for business efficiency purposes. Captions and transcripts are great resources for professionals across every industry, and AI-powered tools can contribute to greater productivity and more consistent messaging within a professional environment. For example, real-time speech-to-text tools like live transcription help cut back on the time and effort meeting attendees might otherwise spend taking meticulous notes during a conference call or Zoom gathering.
Content creators can also use captioning and transcription solutions to boost audience engagement by offering support to the 92% of mobile users who report watching video content with the sound off. It is also worth noting that online videos that contain captions tend to enjoy longer average watch times than videos without captions. Additionally, creators and professionals can use captions and transcripts to boost their SEO ranking by making the information in their audio and video recordings discoverable by significant search engines like Google and YouTube.
Challenges and Limitations of Speech-to-Text Converter AI
Despite its many impressive attributes, artificial intelligence is still subject to certain limitations. Accuracy is one area in which many AI-powered speech-to-text tools show substantial room for improvement. AI tends to perform best under well-controlled conditions. Several variables can impact a software solution’s ability to convert speech to text accurately. These variables may include:
- The quality of an audio recording
- The presence of background noise
- The volume or timbre of a speaker’s voice
- The accents or dialects of featured speakers
- The number of speakers present
Inaccurate captions and transcripts can negatively impact user experience across the board, but they most negatively impact community members with disabilities. Accessibility requirements like the ADA and WCAG set a very high bar for the accuracy of captions and transcripts, so professionals must invest in speech-to-text solutions that meet these accessibility benchmarks.
Data security is another important consideration for professionals who are considering investing in AI-powered speech-to-text tools. Many industries require high data security and confidentiality levels, and not all software platforms comply with these stringent requirements. The healthcare, legal and financial sectors, for example, are all subject to stringent security regulations. As a result, professionals within these industries must ensure that any third-party software products they use have robust security protocols to protect their most sensitive data.
Is There a More Accurate Alternative to Speech-to-Text Convert AI Tools?
Not all AI-powered speech-to-text tools are accurate enough to support accessibility initiatives. Similarly, many AI-based solutions don’t deliver the data security level necessary for projects dealing with sensitive data or personal information.
Verbit offers an easy-to-use alternative solution for professional-grade captioning and transcription that can combine the strengths of both AI-powered and manual transcription approaches. Here’s how it works:
- Step 1: A user uploads a file to Verbit’s platform.
- Step 2: Verbit’s proprietary AI software transcribes the audio to text.
- Step 3: A professional human transcriber reviews and edits the transcript for accuracy.
- Step 4: The transcript is available for download or converted into media-synced captions.
Verbit’s approach to transcription delivers final captions and transcripts with accuracy rates high enough to support modern accessibility requirements. The Verbit platform also boasts top-tier transcription security protocols like data encryption, access control and secure file storage. In a comparison of speech-to-text AI tools, Verbit’s solutions stand out for their reliability, security and accuracy.
Verbit’s platform helps to address the gaps in language and dialect recognition in AI and the other variables that tend to result in less accurate final products. Even so, Verbit recognizes the value of artificial intelligence as an efficiency-boosting tool. That’s why they recently rolled out a suite of generative AI tools to help clients further enhance their transcripts and offer more comprehensive and engaging content experiences to the members of their communities.
Future Trends and Implications of Speech-to-Text Converter AI
One of the most remarkable things about artificial intelligence is its unique ability to evolve and improve over time. While current AI-powered speech-to-text technology is not entirely up to par with the transcription capabilities of dedicated human transcribers, these solutions are only expected to become more accurate and reliable over time. In the coming years, the impact of AI on communication technology will continue to grow, and it is likely that many of the digital tasks we execute daily will become increasingly dependent upon AI software.
Future trends in AI speech-to-text tools will also continue to evolve in response to innovations in media and communication technology. For example, some creators are already using artificial intelligence to help them add captions to virtual reality (VR) and augmented reality (AR) experiences. As new kinds of technology are introduced to consumers, the need for readily accessible assistive technology solutions will only continue to grow and expand.
Summing it Up: AI Speech-to-Text is the Future
Artificial intelligence technology revolutionized many industries, practices and tasks, and its impact is only expected to become more prominent in the decades to come. Speech-to-text converter AI is an excellent resource for individuals looking to convert audio and video recordings to readable text easily and in a pinch. However, it’s important to remember this new technology’s limitations when investing in a speech-to-text solution.
Verbit’s all-in-one platform offers the convenience of AI-powered transcription tools with consistent accuracy rates, turnaround times and overall reliability. Verbit also provides advanced solutions for real-time captioning and transcription, so users can make their live communications more accessible, equitable and engaging for all. If you’d like to learn more about Verbit’s unique approach to speech-to-text conversions, or if you’re interested in how transcription solutions can help professionals boost productivity, reach out today.