5 Predictions for the Future of AI Transcription

Have you heard about artificial intelligence transcription? A lot of companies are turning to artificial intelligence to get their transcription jobs done efficiently, cheaply, and accurately. When we talk about artificial intelligence, we mean using software and machine intelligence to get tasks done. Instead of a person manually doing the transcription, artificial intelligence uses software for problem-solving and completing tasks. They are specially programmed and require minimal human oversight.

With the interest in AI transcription growing, here are five predictions on the future and how it can help.

1. AI Transcription Will Be More Cost-Efficient

A lot of professional manual transcription services are expensive. They pay for the time that it will take to complete the project. This means that if you have large amounts of transcription, this is going to cost you more. However, with artificial intelligence, this can bring down the cost of transcription. Not only will the turnaround time be quicker, but you can invest directly in the right software. This means that you do not have to outsource your work. Simply, pay to receive the software, and you can do all of your AI transcription in-house and save money in the process.

Source: MaxQDA

2. Faster Turnaround Times for Projects

AI transcription makes the whole process quicker. Manual transcription has always been a good way to complete projects. However, businesses have always complained about turnaround times. In particular, last-minute transcripts have been challenging to obtain. But with the rise in automation when it comes to transcription means these problems can be solved. The software will be much quicker and not rely on manual typing.

3. Transcriptionist Jobs Will Decrease

With the increase in AI transcription, it’s highly likely that the demand for manual transcriptionists will decrease. With the software offering high accuracy, quick turnaround times, and affordable costs, this will mean that businesses choose this route for their work rather than a professional company. In some industries, there may still have a demand for professional transcriptionists. Perhaps this will be for more complex projects. However, the future will see more businesses rely on AI transcription.

Source: uSell CRM

4. Increase in Transcription Software Availability

AI transcription software will become more widely available as popularity increases. This means more businesses can have a choice of what software they want to invest in. Of course, some software will be better than others. It’s important to pay attention to the software that you choose for your business. For example, Verbit’s AI transcription may be the most reliable software to choose right now.

5. Businesses Will Do AI Transcription In-House

As a consequence of AI transcription software becoming available to the masses, this means more businesses will take this process in-house. It won’t require the hire of professional transcriptionists. Instead, a team can be dedicated to using the software to fulfil all of your transcription needs. Software is becoming easier to use, which means that minimal training will be necessary. Businesses are likely to invest in the software now to save money later down the line.

Source: Phys.org

Finding the Right Software – What You Need to Keep in Mind

Despite the relative infancy of the technology behind artificial intelligence transcription, an increasing number of businesses are adopting these types of software over human transcribers. And for a good reason: this cutting edge tech presents us with the opportunity to improve the speed of the process as well as the precision of the results while reducing its costs.

However, achieving the desired outcome hinges on how good the chosen AI transcription. After all, not all software is of the same quality. So if you’re looking to get the most out of the technology, here are a few things that you need to keep in mind.

Source: Information Age
  • Check the reviews – Not unlike any other business, AI transcription solution providers can either be too economical with the facts behind their product or make exaggerated claims about its ability to deliver excellent results. When you get right down to it, they need to put their best foot forward to boost sales. So before you financially commit, always check the reviews first. You’ll be able to get much more objective insight in this way. And as a result, make a better-informed decision on which software to opt for.
  • Explore every avenue – In your search for an artificial intelligence transcription software, you’re bound to run into more than one viable option. And the key to selecting the right one that will best fit your business needs is by taking the time to explore every avenue. After all, not only are you far more likely to get one with all of the features that you need in this way. But you could potentially find inexpensive alternatives and better deals too. And, in turn, keep your expenditure at a minimum.
  • Assess your business needs – Not all artificial intelligence transcription software is equal. While they fulfill the same purpose, each one may differ in the features that they offer. So, before you decide on which AI transcriber to go for, make sure that you assess the needs of your business first. After all, there’s hardly any reason to spend more than you need to on additional features that your company may not necessarily need out of the AI transcription software.
  • Test the software first – It can be more than just a little challenging to base your decision solely on what others have to say about the artificial intelligence software that you’re interested in purchasing. As such, it makes sense to try the software yourself if the company provides a trial run for it. In this way, you’ll have a much better idea of how good it actually is.
Source: Arslan ud Din Shafiq

It’s not hard to see why the future of transcribing lies in artificial intelligence transcription software. After all, not only does the technology allow it to do the job quicker. But it can also produce much more accurate results. And by adopting the same approach to transcription, you’ll be able to take advantage of all of its benefits while keeping the costs low as well.