5 Best AI Tools for Speech Recognition in 2024

In past years AI has become more advanced which makes one’s work easy. Similarly, the ability to translate audio and video data at a faster, more precise, and efficient rate has emerged as another advantage of this innovative technology.

According to ReportLinker, the global speech recognition API market is expected to expand at a Compound Annual Growth Rate (CAGR) of 19.2%, from USD 2.2 billion in 2021 to USD 5.4 billion by 2026. This illustrates the increase in demand for speech recognition services and AI Tools for Speech Recognition which help in meeting these demands.

For many enterprises, speech recognition is essential, whether you’re transcribing meetings, lectures, interviews, or any other kind of audio. For your transcription needs, we will thus go over the Top 5 AI tools for speech recognition websites in this article post.

Speechmatics

Speechmatics is an AI tool for speech recognition that uses machine learning techniques to precisely record speech. It is one of the few transcription programs that can fast and accurately translate low-quality audio files, and it works with more than 30 languages.

Features

• The time stamping and punctuation tool of the platform facilitate reading and understanding of the transcribed material.
• The user-friendly interface of Speechmatics allows users to edit and download their transcripts in a number of file formats.
• A RESTful API is offered, facilitating easy communication with an array of programs.

Pros

• The platform additionally provides voice recognition training data to developers who want to train their own speech recognition models.
• Audio with several speakers, background noise, and regional dialects can all be translated effectively by it.
• It helps organizations, market research firms, and other businesses to transcribe large volumes of audio data of different qualities.

Cons

• Languages and accents can affect accuracy, which affects the quality of transcribing.
• Some consumers may get concerned about costs as a result of high usage.
• Certain workflows or applications may become difficult as a result of integrating Speechmatics.

Pricing

• Free version
• $0.30 per hour

Link: https://www.speechmatics.com/

Google Speech-to-text

Google speech-to-text is an AI tool for speech recognition by Google cloud platform allowing companies to quickly and efficiently gain useful knowledge from audio data. GCP’s speech-to-text technology is assisting businesses in increasing productivity, enhancing customer satisfaction, and encouraging creativity by its advance AI tools.

Features

• Speech-to-text technology increases output by cutting down on typing and saving time.
• For people who struggle with typing or have disabilities, speech-to-text technology enhances accessibility.
• With the help of highly responsive speech-to-text technology, customers experiences become faster regarding the questions and feedback.

Pros

• Businesses can cut the expenditures associated with manual typing, i. e. transcript operations, by using automated speech-to-text technology.
• It significantly reduces the need for manual scan and offers improved accuracy.
• Real-time exchange of transcripts, notes, or communications among team members is made possible by speech-to-text technology.

Cons:

• In loud or complex surroundings, speech-to-text technology may have trouble with accuracy.
• Speech-to-text technology may encounter difficulties understanding dialects, accents, and languages that are not part of its programming.
• Requires training and resources for maximum functioning

Pricing

• 0 – 60 minute per month – Free
• 60 minute and over per month – $0.024 per minute.

Link: https://cloud.google.com/speech-to-text?hl=en

Amazon Transcribe

Amazon Transcribe is a large cloud-based AI tool for speech recognition designed primarily for text-to-audio conversion for applications. With regard to being able to handle noisy and low-quality recordings, such those found in contact centers, it specifically tries to offer a more thorough and accurate service than traditional providers.

Features

• Good pre-recorded audio accuracy
• Simple to incorporate if you are already a part of the Amazon ecosystem
• Integration to the Google Cloud Network

Pros:

• Highly associated with automated transcription, and advanced features
• Offers improved changes in the script
• Transcribe high volume of data within few minutes

Cons:

• Slow transcription rates for pre-recorded audio and latency problems in real-time
• It has privacy issues and is a bit costly.
• Has Limited support for custom models.

Pricing

• $1.44/audio hour general
• $4.59/audio hour medical

Link: https://aws.amazon.com/transcribe/

Microsoft Azure Speech Services

Azure Speech is an AI tool for speech recognition which provides a range of features and tools . It offers a variety of speech recognition and generation features, such as speaker detection, text-to-speech, speech translation, and speech transcription.

Features

• Convert audio between over 30 languages and tailor translations to your organization’s own terminology using your choice of programming language.
• By integrating speaker identification and verification into an app, you can verify a person’s identity or identify the person speaking at a meeting.
• To increase safety and facilitate return-to-work circumstances, users can create a voice-first, touchless experience.

Pros

• It uses precise voice analysis, which is enhanced by specialized speech models.
• It is affordable
• Can be executed locally and saved without requiring an internet connection.

Cons

• It might be very challenging to set up.
• Speech recognition can occasionally be inaccurate
• May have issues with the accents of non-native English speakers.

Pricing

• Free version
• $1 per month

Link: https://azure.microsoft.com/

Otter.ai

Another AI tool for speech recognition is Otter. You can transcribe voice conversations with the tool, which is compatible with iOS, Android, and desktop operating systems. The company provides a variety of plans, each with a special set of characteristics.

Features

• It allows users to record and automatically transcript computer or phone conversations.
• It has the capacity to identify and distinguish between various speakers
• Otter allows you to play back audio recordings at various speeds and edit and manage transcriptions right within the program.

Pros

• You can input audio and video files for transcription.
• It is user-friendly interface and has a well designed layout.
• In order to help users, it also offers a helpful instructional.

Cons

• Limited possibilities for customisation for certain use cases or industries.
• Occasionally, difficult or technical language transcriptions have errors.
• Real-time transcribing relies on internet connectivity, which might be problematic in offline settings.

Pricing

• Free version
• $9.17 per month for pro
• $20 per month for user

Link: https://otter.ai/

The “best” AI tool for speech recognition is determined by taking into account a number of variables, including language support, accuracy, scalability, customisation possibilities, integration capabilities, and use case requirements. Since every instrument has advantages and disadvantages, it is difficult to name one as the greatest overall.

However, because of its excellent accuracy, wide language coverage, and interaction with other Google services, Google Speech-to-Text is frequently regarded as one of the finest solutions based on its widespread usage, reputation, and features. The ideal tool for you or your company, however, ultimately depends on your particular requirements and priorities. It’s critical to assess each tool according to how well it fits your unique use cases and requirements.

The top 5 AI tools for speech recognition for 2024 provide a wide range of features and functionalities. The accuracy and wide language support of Google Speech-to-Text make it stand out, and the scalability and real-time processing of Amazon Transcribe make it shine. Speechmatics has excellent accuracy and multilingual support; Otter.ai delivers advanced features like speaker diarization; and Microsoft Azure Speech Services offers configurable models.

Selecting one of these tools will rely on particular criteria including integration needs, language support, and customisation. Because each instrument has its own advantages, they are good choices for a range of sectors and uses.

Does ChatGPT have text-to-speech?

To opt into ChatGPT-4’s voice features, head to “Settings” on the IOS or Android ChatGPT app and select “New Features.” Next, opt into voice conversations.

Where can I get a free AI voiceover?

If you’re looking for a free voiceover generator, look no further than invideo AI. Invideo’s voiceover generator converts your text prompts into voiceovers within minutes.

Is there a free AI that turns text to speech?

Convert text to speech for free with the AI voice generator on Canva, and turn on-hand scripts and home recordings into captivating, realistic narration.

Which AI tool converts text-to-speech?

One of the popular AI apps that provide this feature is Dubverse, which enables users to convert text to audio in a seamless and efficient way. Dubverse is a text-to-speech app that uses advanced AI technology to generate high-quality voice output.

How Can AI do speech recognition?

Speech recognition technology has improved rapidly in recent years due to advancements in deep learning and big data. Advanced speech recognition solutions use AI and machine learning to understand and process human speech.