Technology has definitely evolved and grown over the years, meaning that many things have now changed. Transcription is just one of these things, demonstrating that we can physically create proper written copies of conversations and meetings. Meeting transcription is one of the most common ways to use the technology we have at our disposal.

Thanks to the power of modern technology, such as automated transcription, timelines and deadlines that were impossible 10 years ago, and now perfectly normal. However, it’s important to acknowledge that when it comes to a transcription service, you usually get a choice between good, fast, and cheap.

Let’s talk about each one, and how it can be affected by both automated and human transcription services.

Fast Transcription

Obviously, fast transcription is the clear winner when it comes to speed. Using modern technology, transcriptions can be done incredibly quickly. In some cases, it’s possible to achieve a full transcription in a matter of hours. This can be much faster than the typical human is capable of doing.

Depending on the length of the audio and its complexity, humans can take hours or even days to complete a transcription.

Cheap Transcription

Cheap transcription services are often almost always automated. This is the price that you pay for a cheap transcription would be far too low to successfully secure the services of a human.

The reasoning for this is simple. Machines can produce transcriptions quickly and cheaply. The low price point in comparison to a human transcription is extreme, but cheap transcriptions are the best if price is the critical factor for the project.

Good Transcriptions

Even the best transcription tools for automation are not as good as a human being, when it comes to dealing with multiple speakers.

Even in the best scenario, where the audio is clear, and there are only one or two speakers, automated machines can only achieve accuracy levels between 80% and 90%. However, the automation isn’t perfect, and the accuracy is much lower. This means that even when nothing is being said, the automation machine may type things anyway.

Obviously the clear winner in this situation is the human transcription service.

Final Thoughts

When it comes to the different transcription services that are available, it’s important to acknowledge that there is no one successful choice for your business. It’s very often a case-by-case situation. There are definitely going to be instances where the speed and cost effectiveness of automation are necessary for tight deadlines or projects that you don’t want to invest in. However, there are also cases where human transcription services are much better for the job.

Ultimately, as both have their merits, it’s important to use each one as necessary. We believe that you should have access to both, and have set out to do this. Transcription can be a very useful tool, but at the same time, it’s important to acknowledge that Automation is not inherently a bad thing. There are many situations where automation can be a valuable resource, but you have to be prepared to experiment and find out what those are.