How meeting transcription software is changing the business landscape
Gosh, I should have jotted down the pointers during the meeting!!! That’s quite a familiar statement for those who attend online business meetings regularly. We all seem to miss out on a few or more details shared in web-based meetings. To cope with this some of us try to write and listen at the same which hinders our concentration or some of the lazy ones even add a peer to the meeting just for the sole purpose of writing down. Either way, doing it manually is not only tedious and time-consuming but also is lowering productivity. But thanks to a few thoughtful heads this whole problem is now getting eradicated with the introduction of meeting transcription software. The meeting transcription software is on the verge of bringing a whole new revolution in the business world.
So the first question that must be storming through your mind would be — What are meeting transcription software? Why & How are these proving such a breakthrough in today’s online world.
In simple terms, A meeting transcription software platform automatically captures, transcribes, and generates meeting notes from a meeting. In other words, it is an advanced version of a meeting recorder that gathers the live audio/video activities during the meetings into texts.
Backed with technologies like Artificial Intelligence and Natural Language Processing, the working of this software can be explained in a two-step process:
Step 1: Data Gathering — Recording and Listening to the audio
Step 2: The Transcription — Using several digital transformation technologies to convert this audio into text.
Well, there can also be a Step 3 which can be activated as per the preference from setting. This additional functionality enables the tool to automatically send an email containing the desired text to the meeting attendees or users.
This remarkable software has created a huge buzz in the lives of not only students, marketers, corporates, and many more. Among the aforementioned businesses are the ones who have benefited the most from this software.
Why?
The answer is quite simple.
A couple of years back online meetings were limited to discussions between businesses & clients located at different geographical locations. But then the pandemic occurred forcing employees to stay home hence creating a need for online meetings for inter-team communications. Online meetings became a necessity for organizations to remain connected but this also opened up opportunities to enhance online communication like never before. Meeting transcription software which was merely a concept, suddenly evolved into a much-needed tool.
Now a question stands, how meeting transcription software is changing the business landscape.
To begin with, the days of missing and misunderstanding information are now becoming history with these AI-based assistants. The transcripts generated with this software give users easy access to all the key insights buried inside voice conversations.
To make it more convenient I have listed down all the pointers:
Secure and Reliable: The software uses AI to perform all sorts of operations required, making it 100% reliable. All the stored details are encrypted & can be accessed through the dashboard by authenticated users only hence keeping every bit of data secure. From the perspective of business personnel where the security of data is a prime concern, it is quite a positive point.
Fast and Accurate: Unlike the traditional text to speech translators, these AI-based
To give you an idea, An hour-long meeting can be easily transcribed in less than 10 minutes using these AI-based meeting transcription software.
Easy to Use: There are no additional hassles required in order to use this software. Usually, they get integrated into your browser (generally as a 3rd party extension). When required a user can activate the extension and it joins in as a participant in a meeting who transcribes all the conversation while you can focus on more pressing concerns. Earlier in important meetings, people tried to involve junior associates just for the purpose to note down the meeting minutes, but now it will change since the software is already taking care of that.
Easily accessible & repurposable: A great thing about this meeting transcription software is that the data compiled through the software is very convenient to access. These transcripts are stored on the cloud and can be easily downloaded by assigned members. There’s also an additional feature allowing these transcripts to be easily shared to a user’s email drive. These transcripts can also be easily repurposed for marketing purposes.
Why meeting transcription software is the future?
There is no denying the fact that the future of AI automated transcription software will only keep getting better.
Let’s hear what the statistics are saying — As per the 320-page report published by future market insights in March 2021 — The transcription market is expected to rise from a valuation of US$1.68 Bn in 2021 to around 3.7Bn by 2031. Double than twice the growth in a decade.
I believe that pretty much wraps it up.
Conclusion:
It all boils down to the fact that AI-based online meeting transcription software is the future of businesses. Looking at the trends these software demands are exponentially growing and it is expected to reach an all-time high in a decade. Well, why not since the software has made online communication & meeting transcription more convenient, secure, time-saving, hence changing the entire business landscape.
