It is not an easy question to answer, as using a per-minute billed online transcription service to transcribe a large amount of video material can be quite costly. We could purchase one of many transcription services available online, or we could code it ourselves using existing libraries or boilerplate codes. As is often the case, we are faced with the decision of whether to buy or build it ourselves. Recently, we received a request to assist with automated video transcription, which involves generating text from a video’s audio stream. It concludes that if you have enough own/internal IT resources, you can create a tool of your own, but it will not come for free and you may have to close gaps in regards to certain requirements. It also looks at pricing, accuracy, and bonus services like human transcription. It compares different services and looks at features like transcription of English, recognition of speakers, export of transcripts with timecodes, and recognition of key phrases or topics. This article discusses the pros and cons of buying a transcription service or making your own.
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