Automated transcription is much faster and much less expensive than human transcription. If getting a transcription fast and inexpensively is important to you, then automated transcription is likely better for you. However, automated transcription can be less accurate than human transcription. If you need 100% accuracy on your transcription, then human transcription is likely better for you.
Automated transcription is much faster than human transcription. Automated transcription services provide transcriptions in minutes, not days. A typical turnaround time for a 30 minute audio or video file is 5 minutes for automated transcription services. For human transcription, that same file could take 2 or 3 days.
Automated is considerably less expensive than human transcription. Automated services typically charge roughly $5 to $10 per hour whereas human transcription services will cost anywhere from $60 to $200 per hour depending on the nature of the audio or video file.
Sonix.ai was ranked highest in terms of accuracy by an independent study from PopUpPodcasting recently updated in December 20171.
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1https://popuppodcasting.ca/blog/automatic-transcription-services-compared
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