computer with online meeting

May 06, 2022

What is real-time transcription

by Remi Torro

Real-time transcription transforms your voice into text as you speak. This technology can assist a company in making better decisions due to the less activity needed to report what’s said in a meeting  

Companies today are more than ever doing meetings and especially online meetings. These meetings provide critical insights into prospects’ and customers’ thoughts, feelings, and opinions. Finding these insights, however, can be difficult, especially as the volume of meetings continues to grow. Manually reviewing meetings is inefficient, costly, and does not scale. 

Meeting transcription in real-time helps you extract actionable items from call, converting raw audio into searchable text that can then be analyzed.
 

How real-time transcription works 

Meetings involve a series of conversations between multiple people who may be in the same room or dialed in remotely. These discussions may include video and screen sharing, which can be extremely information-dense. A suitable meeting transcript entails more than just understanding what was said: it must preserve the flow of the conversation, identify critical events that occurred, and comprehend the intent of what was said. Transcripts that include speaker naming and statements help readers understand who was involved in discussion points while also providing specific context for what was said. 

The primary advantage of real-time transcription is the ability to gain actionable insights and knowledge from recorded conversations on a large scale. When a company is recording hundreds, thousands, or even tens of thousands of calls, manually reviewing call recordings is impractical. Converting these recordings into searchable text results in significant time savings and a significant increase in capability.  

Many businesses are overwhelmed by the massive volume of meeting recordings and the huge amount of data generated by meetings. Transcribing these recordings is an important step in the process of going from recording a meeting to creating actionable value from it. Today’s Artificial Intelligence/Machine Learning technologies have advanced to the point where accurately transcribing meetings, despite their unique challenges, is now possible. The ability for machines to generate transcripts without human intervention allows for large-scale conversations to be examined, which was not possible before with manual call recording and call review. 

 

How isLucid can help you with real-time transcription and much more 

isLucid captures actionable items as you and your colleagues speak. It then seamlessly transfers these items into your preferred task management tool (Microsoft Planner, Atlassian Jira, Azure DevOps), as well as provides an accurate transcription of your call. Get easy-to-understand meeting minutes right after the call, share them with external stakeholders, and have tasks created for your teams to work on automatically.

The isLucid bot joins the discussion to generate actionable items (like tasks and meeting minutes). You can start or pause the transcription at any time you want when the bot is in the discussion, it includes many languages so you can choose your preferred language and still use all the features, you’ll receive the best possible transcription thanks to the artificial intelligence, identify important actionable items in real time to simplify and streamline task management 

Project Managers and Account Managers who use isLucid save an average of 15 minutes per meeting for wrap-up and task assignment. There’s no need to manually create tasks from your notes when items are automatically created in your favorite project and task management tools. 

If you require additional context, you can always refer to the transcript. The transcript makes it easy to see which tasks were created and which meeting participants were informed. You can easily mark new actionable items for future reference as well. If you want to learn more about isLucid, visit our website: isLucid.com

At isLucid we understand that confidentiality, integrity, and availability of our services are of the utmost importance to our customers, partners, and us as a company. By using isLucid, you and your teams are the only ones who have access to the information transcribed, tasks created… The process is fully automated and data is only stored in your tenant ID. For instant transcription, we use a real-time media stream. Data is transferred over a secure TLS channel and is not stored anywhere after it has been transcribed. This is unaffected by whether or not we use isLucid because we only create documents with no read access. If you require additional information about the security of your data while using isLucid, please visit this page: isLucid Security. 

Conclusion 

Real-time transcription is a technology that lays the groundwork for producing machine-readable data that can help companies to make better decisions. IsLucid assists you in extracting actionable items and real value from online meetings by converting raw audio into text in real-time where people can create actionable items or get AI suggestions to help you. The primary benefit of meeting transcription is the ability to gain actionable insights and knowledge from large-scale recorded conversations. 

 

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