Prefer talking over typing? Transcription tools can make it easy by converting audio and video into digital texts through AI and natural language processing (NLP).

You can transcribe videos, meetings or interviews by choosing the best tool that saves time and boosts productivity.

To help you choose the best, we have reviewed the top 10 transcribing tools of 2024, showing their features, costs, and user experiences. By the end of this read, you’ll know exactly which tool best meets your requirements on an affordable budget.

What Is AI Transcription & How Does It Work?

AI transcription is a useful technology that uses Artificial intelligence to provide speech-to-text services. Its like recording something, and getting it transcribe it for you, but at a much faster rate and lesser errors.

Unlike traditional transcription, where a person listens to the recording and types it out manually, AI transcription tools perform this task automatically, without any human involvement.

These advanced tools leverage technologies such as natural language processing (NLP), machine learning, and large language databases to identify and transcribe the speaker’s voice accurately.

So, how does AI transcription work? Here’s a simplified breakdown of the process:

1. Audio Upload: First, you feed your audio or video file into the transcription service.

2. Processing: This is followed by analysis with the help of a particular AI tool, which scans the file’s content by defining words and phrases.

3. Text Output: Finally, the tool generates the content in a textual format that you can review, edit, or share.

Hence, this automated transcription process is faster, more efficient, and accessible for every user, helping convert spoken language into written form with minimal effort.

What Should You Look for in Transcription Software?

Before deciding on the best transcription software to use, there are some factors that you should consider. However, not all transcription tools are equally good, and therefore, knowing what should be in a good transcription tool makes the difference.

  1. Accuracy: The first thing to consider is the accuracy of the output. Ideally, transcription software should transcribe the speech very accurately with few mistakes. High accuracy ensures that you spend less time correcting mistakes and more time focusing on the content.
  2. Speed: Speed is another crucial factor. How quickly can the software transcribe your audio or video files? Some tools provide features like transcription in real time, which saves time, especially in conferences or meetings. The faster the transcription, the quicker you can move on to editing or sharing the content.
  3. Ease of Use: The software should be easy to use, especially the interface, which should be user-friendly for uploading files, reviewing transcripts, and editing.
  4. Cost: Cost is always a consideration. While many transcription tools are available on the market, their costs can also differ drastically. So, think about your budget and what features you really need before making a decision.
  5. Security: If you’re working with sensitive information, security is a top priority. Look for transcription software that offers strong encryption and data protection measures. This ensures that all your documents are secure and privacy is observed.
  6. Multi-language support: The ability to handle the languages you are interested in is crucial when choosing such software. Like text-to-speech software, some transcription tools also have multilingual support that can be of great value.

Thus, by keeping these things in mind, you can choose a transcription AI tool that meets your needs and enhances your workflow.

Top 10 Transcription Tools to Use in 2024

Finding the right transcription tool can make a wide difference in how efficiently you convert audio to text. We’ve brought the 10 best Speech-to-text tools to use in 2024, each with unique features, pricing, and ratings to help you choose the one that suits your needs.

1 Wavel AI

Wavel AI is a cutting-edge transcription tool that leverages advanced artificial intelligence to convert spoken language from audio and video files into accurate text. The transcription process begins with uploading the audio or video file to the Wavel AI platform. Its unique features make it perfect for automatic transcription. 

Here’s how it works: The tool uses speech recognition technology and natural language processing (NLP) to analyze audio and video content. It identifies words, phrases, and context and provides a precise and accurate transcript within minutes.

Key Features:

  • Its multilingual support which allows users to transcribe the content in over 20 languages.
  •  Offers seamless integration with platforms like Zoom, Microsoft Teams, and YouTube, enabling automatic transcription.
  • Provides real-time transcription, which is particularly useful for live events and meetings.
  • The platform’s editing tools allow users to review and quickly adjust the transcript.

Pricing: 

  • Free version available
  • Basic plan: $18/month
  • Pro version: $30/month
  • Business class: $60/month

2 Otter AI

Otter.ai is a leading automated transcription service widely trusted by organizations like UCLA, IBM, and Rakuten. Beyond simply transcribing audio and video files, Otter.ai also excels in real-time recording and transcription for both in-person and virtual events.

One of its standout features is its seamless integration with Google and Microsoft calendars, enabling Otter to automatically join and transcribe Zoom, Google Meet, and Microsoft Teams meetings, as well as lectures and interviews.

Best Features:

  • Export transcripts in various formats, including TXT, DOCX, PDF, SRT, and MP3.
  • Collaborate directly in Otter’s editor with features like highlights, notes, comments, images, and action items.
  • Adjust playback speed (0.5x to 3x) and skip silence for quicker error correction.
  • Customize Otter to recognize specific names, jargon, and acronyms, ensuring accurate transcription tailored to your needs.

Pricing:

  •  Free version available
  •  For paid Version- From $16.99 to more

3 Rev.com

For those requiring high precision, Rev provides human transcription for both audio and video files, handled by a vast network of skilled transcribers.

Rev also offers AI transcription for a more cost-effective solution and enhances its functionality by providing speech-to-text APIs.

Beyond basic transcription, Rev allows users to edit transcripts, highlight specific sections, add comments, and even request captions in 17 different languages.

Best Features:

  • Achieve high accuracy with human transcription services.
  • Benefit from quick turnaround times.
  • Access additional services like translation and captioning.

Pricing: Around $0.25 per minute for transcription

4 Temi

Temi is one of the top transcription tools designed explicitly for transcribing English audio and video files. The team behind Rev.com developed it and aims to deliver transcripts with up to 93% accuracy.

What sets Temi apart is its emphasis on simplicity. Unlike other transcription tools with complex features, Temi offers a minimalist dashboard for easily tracking past transcriptions and a straightforward editor for refining your transcripts.

Best Features:

  • Download transcripts in  TXT, DOCX, PDF, and SRT formats.
  • It also supports MP3 and MP4 formats for uploading files.
  • Easily share transcripts via link or email with team members.
  • Use the editor to highlight text, strikethrough, add comments, or navigate to specific audio sections.

Pricing: $0.25 per audio minute

5 Fireflies

Fireflies.ai goes beyond simply transcribing audio and video content; it acts as a personal assistant that records, transcribes, and summarizes your meetings and lectures.

What sets Fireflies apart is its focus on meeting analytics. It offers insights such as speaker talk time and talk-to-listen ratio to enhance future meetings. Moreover, Fireflies is an excellent choice for marketing, sales, and product teams looking to fine-tune their communication strategies to secure more clients.

Best Features:

  • Upload files in both video and audio formats, and then export transcripts in DOCX, CSV, and PDF formats.
  • Transcribe meetings and audio files in over 60 languages.
  • Utilize smart search to identify speakers, meeting topics, and key details such as questions and action items.
  • Seamlessly integrate with over 40 tools, including dialers, video conferencing platforms, storage solutions, CRM systems, and project management software.

Pricing:

  • Free
  •  From $18 per month to more

6 Transkriptor

Transkriptor is an AI-powered transcription service known for its impressive accuracy of up to 90%. Users can upload files from a variety of sources, including YouTube, Google Drive, and even WhatsApp.

Like many other transcription tools, Transkriptor allows team collaboration within its platform, where users can edit and refine transcripts before exporting them in different formats such as TXT and DOCX.

Best Features:

  • Organize your transcripts into dedicated folders for easy management.
  • Automatically detect different speakers and customize speaker tags.
  • Support for over 100 languages
  • You can personalize transcripts by setting paragraph sizes, merging segments by the same speaker, and adding timestamps and speaker names.
  • Use the AI writing assistant to automatically join, record, and transcribe meetings on Zoom, Google Meet, and Microsoft Teams.

Pricing: 

  • Lite: $9.99/month
  • Premium: $24.99/month 

7 Sonix AI

Sonix is an AI-driven transcription service that supports over 38 languages and accents, including English, French, Spanish, and Chinese. Each transcript generated by Sonix comes with time codes and speaker identification, ensuring clarity and organization.

Sonix integrates seamlessly with more than 25 tools, including Dropbox, Evernote, Zoom, and Loom, which streamlines transcription workflows for greater efficiency.

Best Features:

  • Organize transcripts into specific folders with customizable access permissions.
  • Create custom dictionaries to enhance accuracy across various projects.
  • Automatically summarize transcripts into concise sentences or bullet points.
  • Utilize custom labels to track and update the status of each transcript.

Pricing: Starting from $10/hr to more

8 Scribie

Scribie is a reliable transcription tool offering automated and human transcription services. The platform is easy to use, featuring a simple web console where you can easily upload your files and request a transcript.

To get started, you’ll need to sign up for this tool and complete the payment process. After you are done with this, Scribie will begin processing your file into a transcript that you can monitor directly from your dashboard.

Key Features:

  • Collaborative team space for seamless teamwork.
  • You can upload files from your laptop or computer, YouTube, Google Drive, etc.
  • Option to transcribe files in MP3, MP4, and FLAC formats.

Pricing: Around $1.25/minute

9 TranscribeMe

TranscribeMe is an advanced software that aims to generate high-quality transcription outputs by using AI.

This tool works with human expertise to review the transcript files and edit it to meet the accuracy rate. Then the tool send email after finishing the whole transcription process. Additionally, Transcribe offers translation and custom data creation services as well.

Key Features:

  • It supports more than 15 languages for translating audio and video files.
  • Transcribe files in MP3, MP4, and WAV formats.
  •  Provides user-friendly interface

 Pricing:

  • Transcription: Around $0.07/minute
  • Translation: Around $0.11/word

10 Verbit:

Verbit also uses advanced AI technology with human expertise to deliver high-quality transcription, audio captions, and translation services. The input files are analyzed by AI and professional transcribers to ensure top-notch accuracy.

This tool provides specialized solutions in many applications, including the higher education, legal, and media sectors.

Key Features:

  • Offer live captions and transcripts for virtual events on platforms like Zoom and Webex.
  • Provide outputs in TXT, DOCX, PDF, and CSV formats.
  • Produce highly accurate transcripts, minimizing background noise.

Pricing: Visit the website to learn about pricing

Choose the Best AI Transcription Tool!

AI transcription service is vastly used with smooth integration and advanced AI features technology in 2024. No matter you need a personal and professional transcription service, there are many options available to fulfil your wish.

But if you’re looking for a perfect combination of innovation, ease of use and accuracy at the same time, then go for Wavel AI, an excellent tool for your every transcription need.

With its cutting-edge features and user-friendly interface, it’s designed to make transcription a breeze for professionals across industries. So, why are you waiting for? Try Wavel AI Transcription now!

FAQs

Q. What is AI transcription software?

A. AI transcription software is a tool that uses artificial intelligence to automatically convert audio or video files into written text. These tools leverage advanced algorithms like natural language processing (NLP) and machine learning to recognize and transcribe speech quickly and accurately.

Q. How do I choose the best transcription tool?

A. While choosing a transcription tool, consider factors like accuracy, ease of use, integration with other software, and cost as well. Additionally, look for features like real-time transcription, language support, and the ability to edit transcripts.

Q. What formats can I export my transcripts in?

A. Most AI transcription tools allow you to export transcripts in multiple formats, including TXT, DOCX, PDF, SRT, and CSV. This flexibility ensures that you can use the transcript in different applications, whether you need a simple text file or a more detailed document.

Q. Can I use AI transcription tools for live events?

A. Yes, many AI transcription tools support live transcription for events like live meetings, lectures, or webinars on platforms like Zoom or Microsoft Teams. This feature is particularly useful for creating real-time captions or providing instant meeting details.