Top 10 Best AI Transcription Software Services in 2023

What’s AI Transcription and Why Do You Need It?

AI Transcription Software operates in an automated manner, capturing conversations and seamlessly transforming them into textual format. Depending on the capabilities inherent to the specific software, it can even discern multiple speakers and append timestamps automatically. This obviates the arduous need for manual listening to recordings at a leisurely pace in order to meticulously transcribe every word of the conversation.

Beyond the realm of time-saving and frustration reduction, the decision to invest in a proficient AI transcription tool can yield substantial benefits for your business. But how, you may wonder?

By furnishing transcripts, your content undergoes a transformation, rendering it significantly more accessible and thereby enhancing your endeavors in the domain of Diversity, Equity, and Inclusion (DEI). Consider, for instance, how customers with hearing impairments can now partake in and savor your podcast or YouTube channel content.

Furthermore, this tool serves as an invaluable asset in the content creation process itself. With a transcript in hand, the quest to locate a specific quote to bolster your argument becomes a markedly simplified task.

How does AI transcription work?

AI transcription software harnesses the power of machine learning to transform sound waves into fundamental speech units known as phonemes. These phonemes constitute the elemental building blocks of spoken language, encompassing sounds such as “th” and “wh.”

The operation of AI transcription software delves further into the realm of probability analysis, where it endeavors to infer words by scrutinizing the sequence in which phonemes manifest. This process unfurls in iterative waves, each wave striving to decipher the correct sentences that encapsulate the spoken content.

How accurate is AI transcription?

AI transcription, in its sheer precision, astounds. The foremost AI speech recognition tools attain an impressive 90% accuracy rate or even surpass it. Moreover, armed with the appropriate integrated editor, achieving a flawless 100% accuracy is well within reach.

However, it’s important to acknowledge that not all tools share the same level of precision. Our top endorsement goes to Riverside’s AI transcription software, esteemed for its remarkable swiftness, precision, and the convenience it offers through text-based editing. With this tool, the minutest of errors within the transcript can be effortlessly rectified by simply editing the text. Riverside further distinguishes itself by delivering audio recordings of exceptional quality, a pivotal factor in ensuring the precision of transcriptions. It’s an established fact that AI transcription tools yield superior transcripts when the audio clarity of the original recording is pristine.

10 Best AI Transcription Software Services

Debatrix (a leading expert in persuasive communication) suggests that the average speaker utters approximately 120 words per minute. When tasked with manual transcription, the process necessitates attentive listening to spoken words, precise typing, and the creation of a well-structured, readable format. This undertaking can rapidly evolve into a laborious and time-consuming endeavor.

To alleviate this burden, we present the top 10 AI transcription tools that possess the capability to automatically generate highly accurate transcripts within a matter of minutes:

1. Fireflies.ai
2. MeetGeek
3. Otter.ai
4. Beey
5. Nova AI
6. Verbit.ai
7. Scribie.ai
8. TranscribeMe
9. Temi
10. Audext

To enhance clarity, let’s categorize these tools based on their optimal use cases.

AI transcription tool for meetings

1. Fireflies.ai

Fireflies is a leading AI transcription tool that prioritizes the transcription of meetings as its primary focus. This versatile tool boasts exceptional capabilities, including recording, transcribing, summarizing, and analyzing your online meetings with an impressive accuracy rate of 90%.

Furthermore, Fireflies goes beyond its proficiency in managing meetings, as it proves valuable in transcribing a wide array of content types, encompassing interviews, podcasts, voice memos, and various other conversational scenarios.

Features:

• Call Recording
• Machine Learning
• Call Analysis
• Speech-to-Text
• Artificial Intelligence
• Dictation
• Accuracy
• Speaker Identification
• Timecode Management
• Closed Captioning
• Spell Check and Punctuation
• Text Editing
• Translation
• Voice Files
• Live Captioning

2. MeetGeek

Much akin to Fireflies, MeetGeek emerges as a distinct AI transcription virtuoso, adept at facilitating the recording, transcription, synthesis, and extraction of profound insights from your corporate congregations.

With MeetGeek seamlessly integrated into your corporate ecosystem, you can harness its autonomous prowess to effortlessly join your assemblies, initiate audio capture, and meticulously transcribe the discourse. Not merely content with transcription, MeetGeek extends its dexterity to proffer an AI-forged compendium, encapsulating the quintessence of your rendezvous.

Intriguingly, MeetGeek unfurls yet another layer of its virtuosity. It welcomes your vocal directives during the course of meetings, empowering you to conjure tasks and instigate automation cascades, thereby enriching the orchestration of your corporate parleys.

Features:

• Scheduling
• Notes
• Meeting Analytics
• Call Recording
• Call Analysis
• Speech-to-Text
• Artificial Intelligence
• Dictation
• Accuracy
• Speaker Identification
• Timecode Management
• Spell Check and Punctuation
• Text Editing
• Integrates With Existing Applications

3. Otter.ai

Otter.ai stands as an exemplar among AI transcription instruments, designed with the primary intent of facilitating the recording, transcription, and condensation of real-time dialogues.

The artistry of Otter AI unfolds as it forges a symbiotic connection with your Google or Outlook calendar. Through seamless integration, this ingenious tool orchestrates the automation of your rendezvous, adroitly aligning itself to engage in your meetings spontaneously. Henceforth, the Otter Assistant shall effortlessly partake in your sessions, diligently scribing notes, and etching the essence of discourse for your perusal.

Features:

• Dictation
• Accuracy
• Speaker Identification
• Timecode Management
• Closed Captioning
• Custom Dictionary
• Collaboration
• Spell Check and Punctuation
• Text Editing
• Data Security
• Voice Files
• Live Captioning
• Integrates With Existing Applications

AI transcription tools for captioning and subtitling

1. Beey

Beey emerges as yet another formidable AI transcription instrument, proficient in the seamless generation of subtitles and transcriptions for your auditory or visual content.

Embarking on a journey through the Beey dashboard, one navigates to the Projects enclave, where the act of transcending audio or visual materials into transcribed textual brilliance is effortlessly orchestrated. The Media Files repository stands poised to ingest your auditory or visual opus, yielding meticulous transcriptions in its wake.

Features:

• Dictation – Transcription Software
• Voice Files – Transcription Software
• Data Security – Transcription Software
• Speaker Identification – Transcription Software
• Spell Check and Punctuation – Transcription Software
• Accuracy – Transcription Software

2. Nova AI

If your quest involves finding a singular, all-encompassing solution, capable of seamlessly overseeing video editing, amalgamation, transcription, and translation, Nova AI stands tall as an optimal choice.

Nova AI stands as a versatile, multifaceted tool, generously extending its offerings in the domains of video editing, transcription, and translation, spanning a staggering array of 40+ languages.

Navigating this intricate landscape is a breeze. Merely upload your video to the Subtitle panel, invoking the magic of the “Auto Subtitle” feature. Within moments, your video undergoes a transformative journey, metamorphosing into captioned cards, awaiting your exploration in the Subtitles section.

Features:

• Video Editing Tools: Video Cutter, Trimmer, Merger, Cropper, Speed Controller, and more
• Subtitle Tools: Subtitle Editor, Generator, Translator, Caption Generator, Hardcode Subtitles
• Audio Tools: Video Sound Editor, Add Audio/Music to Video, Audio Merger, Audio Cutter, Text to Speech
• Video Creation: Marketing Promo, Trailer, Intro, Outro, Social Media, Educational, Explainer, Corporate, Product, Resume, Pitch, Holiday, Birthday, Lyric, Meme, Motivational, and Photo Videos
• Basic Effects: Video Filters, Transitions, Elements, Emojis, Add Text/Image to Video

3. Verbit.ai

Verbit.ai combines the cutting-edge capabilities of AI technology with the sophistication of human intelligence to provide users with transcription services of exceptional accuracy.

The method of operation is very simple. Put your audio or video files in the arms of the Verbit platform. Here the magic unfolds: the platform automatically creates recordings and is subject to strict quality monitoring. The final masterpiece will then be presented to you in your preferred format.

Features:

• Transcription
• GDPR Compliance
• HIPAA Compliant
• LMS Integration
• Reporting
• Template Management
• Search

AI transcription tools with human proofreaders

1. Scribie.ai

Scribie stands as yet another purveyor of AI transcription services, skillfully blending the prowess of artificial intelligence with the finesse of human intervention to bestow upon its user’s transcripts of the utmost accuracy. Within their offerings, they proudly present transcripts boasting a 100% accuracy rate, coupled with the generous provision of complimentary re-reviews to safeguard and augment quality.

Features:

• AI / Machine Learning
• Annotations
• Audio/Video File Upload
• Automatic Transcription
• Collaboration Tools
• File Sharing
• For Manual Transcription
• Full-Text Search
• Natural Language Processing (NLP)
• Playback Controls
• Speech Recognition
• Subtitles
• Text Editor
• Timecoding

2. TranscribeMe

TranscribeMe presents a hybrid model transcription service, adeptly merging the capabilities of AI technology and the finesse of human transcribers to craft transcripts of the highest caliber within remarkably brief timeframes.

To use this service, simply upload your audio or video file to TranscribeMe and proceed to place an order for your desired transcript. The dedicated TranscribeMe will promptly craft an impeccably accurate transcript for your file.

Features:

• Voice Recognition
• Multi-Language
• Audio Capture
• Automatic Transcription
• Customizable Macros

Top AI transcription tools for audio files

1. Temi

Temi garners acclaim within the transcription sphere for its exceptional celerity in furnishing transcripts to its clientele.

To partake in its expeditious services, one must simply upload an audio or video file to the Temi platform. In a mere span of under 4 minutes, the software artfully crafts a transcript of the highest quality, a testament to its remarkable proficiency.

Features:

• AI/Machine Learning
• Audio/Video File Upload
• Automatic Transcription
• Speech Recognition
• Step-by-Step Wizard
• Timecoding

2. Audext

Audext employs cutting-edge AI algorithms to deliver swift and dependable automated audio-to-text conversion solutions.

To harness the capabilities of Audext, simply access the platform through your web browser, upload your audio file, and initiate the transformation from speech to text. The ensuing text can be conveniently edited online before being saved in either DOCX or TXT format.

Features:

• Automated Transcripts
• Data Import-Export
• Speech to Text
• Machine Learning
• Support Audio / Images / Video

FAQs about Best AI Speech Recognition Software

1. What is the cost of transcription with AI tools?

The pricing structure for transcription services can vary significantly among different tools. Some platforms provide a complimentary trial period, while others determine costs based on factors such as per-minute rates or subscription fees. For instance, TranscribeMe applies a rate of $0.07 per audio minute, whereas Temi sets its pricing at $0.25 per minute. On the other hand, Fireflies extends a range of options, including a free plan and two paid alternatives, commencing at $18 per seat per month. For potential savings, it’s worth considering annual billing as an option, as this often results in a discounted rate.

An important aspect to keep in mind is that the quality of the audio recording can influence both the cost and the final results of the transcription process. Hence, it might be a wise choice to invest in a high-quality recording device to ensure optimal outcomes. In general, it is advisable to steer clear of manual transcription due to its time-consuming nature and associated expenses.

2. How accurate is AI transcription?

Various AI transcription services exhibit varying degrees of accuracy in their transcriptions. The most advanced AI solutions can attain an impressive accuracy rate of up to 98%, while some others may hover around the 90% mark. It’s crucial to note that the accuracy level is also contingent on the quality of the audio file or recording. Factors such as background noise, overlapping voices, and distinctive accents can pose challenges and potentially hinder the attainment of higher accuracy levels.

3. What are the benefits of AI transcription?

Prepare to revolutionize your productivity with AI transcription. Bid farewell to endless hours of laborious toil and effort. Unlock the power of seamless file access, simplifying the task of editing and reviewing transcript information. Elevate your teamwork to unprecedented heights with the game-changing upload and sharing capabilities. Embrace efficiency like never before.

4. What AI transcription software is free?

Numerous cost-free transcription software choices abound. While some platforms provide unrestricted access to their software without any charge, others extend complimentary trials or impose constraints on monthly free usage. Notably, Notta, Airgram, and Fireflies stand out with their complimentary AI transcription offerings.

5. What are the cons of AI transcription?

While AI transcription presents significant advantages, it’s not without its drawbacks. The primary downside lies in the lack of absolute accuracy. The quality of the transcription may vary, particularly when dealing with audio of subpar quality, leading to less precise results compared to manual alternatives.

6. How Much Do Transcription Services Cost?

Many transcription services operate on a per-minute billing model. For instance, transcribing a 30-minute audio clip at a rate of $1 per minute would result in a total cost of $30. It’s important to be aware that expenses can accumulate swiftly, and some services may impose additional charges for expedited turnaround times, verbatim transcriptions (including all the “ums” and “ahs”), or dealing with low-quality audio. If you frequently find yourself in need of transcription services for audio and video files, a subscription-based approach, like those provided by Otter and Trint, could offer the best overall value.

As you might expect, the time required to transcribe a file generally hinges on its length. Automated services can typically process a file in just minutes, whereas human-powered services usually entail a lengthier turnaround period, often at an extra cost for faster delivery. For instance, Rev commits to delivering your file within a 12-hour window in most cases, while GoTranscript’s slowest option, at five days, also happens to be the most economical choice.

7. How to Get the Most Accurate Transcription?

To ensure an accurate transcription, one of the most crucial steps is to obtain a high-quality recording of your conversation or interview from the outset. It’s essential that your participants remain in close proximity to the recording device and articulate their words with clarity and volume. In cases involving multiple speakers, it’s advisable for participants to take turns speaking to prevent interference. It’s worth noting that heavy accents among speakers may present challenges, and while audio editing software like Audacity can help address some issues, it’s not a panacea. Additionally, transcriptions derived from in-person recordings tend to yield superior results compared to those from phone call recordings.

8. What’s the Best Free Transcription Software?

The choice largely depends on your specific needs as nearly all audio and video transcription programs offer limited free options.