Our data shows that between 2020 and 2021 iconik customers spent 886% more on AI transcription services. Digging a little more, we found that iconik users who adopted it into their workflows very seldom turn back once they discover the automated goodness of it all. They find that AI transcriptions are fast, accurate, and very affordable.

But it's not all good news.

Our data also shows that many more of our users are missing out, and it's likely due to some common misconceptions.

The 2 Big Myths About Transcription:

‍1. Transcribing media takes a long time

2. Transcribing media is expensive

In this post, we'll put those myths to rest and tell you how to start using AI transcriptions as well as point out some of the big wins you can gain from this.

Not familiar with AI transcriptions? Here’s a short video of how it works in iconik.

Transcriptions are a Valuable Part of Video Production

After a video shoot wraps up and the rushes are offloaded into storage, it’s common to then organize and enrich the media so that it's easy to find and use during post-production. 

One of those enrichment processes is transcription, the process of creating readable text of recorded speech. While transcriptions are most often to provide captions for media, they can be used for much more.

This is where AI transcription comes in handy. 

AI Transcription 101

AI transcription is a method of transcribing video or audio files using artificial intelligence that has been trained by listening to a data set of real human speech. This method can be done in a fraction of the time that it takes to manually create a transcript. 

In iconik, all it takes is one click, and the AI processes the asset in the background. Within minutes, the transcriptions will be available in the transcription panel where they can be exported as WEBTT, txt, or SRT files.

One thing to keep in mind is that AI transcription is not perfect. There may be some errors, and it's important to proofread the transcript before using it. To do this, iconik allows you to edit each word and assign them to speakers as needed.

It may requires a little work, but it beats a lot of manual work. Plus there are other benefits you'll gain from transcriptions.

Top 5 Benefits of Transcriptions

1. Accelerate Video Production

With every spoken word time-stamped, editors can find the exact frame where a phrase is spoken. Cutting together interview videos or highlight reels is much easier this way.

Transcriptions can also be used for creative direction. Highlighting a section of the transcript in the iconik transcription panel will automatically create an in/out marker in the iconik video player for a time-based comment. 

When using the iconik panel for Adobe Premiere Pro, time-based comments will appear as markers, keeping the feedback and direction intact all the way through post production.

2. Repurpose Your Content

Text transcripts for videos can be reused to create articles or blog posts. Transcripts can also identify key points and topics in your video so that you can more easily create summaries or highlights. 

3. Translating Content Into Other Languages

Transcribing your video content into other languages can be a tedious task. However, by using AI transcription services, you can easily and quickly translate your video content into multiple languages for international audiences and make your content more accessible to people who are deaf or hard of hearing. Iconik currently supports transcription for 36 languages.

4. Improve your Media SEO

AI transcription can help you improve your media SEO by generating transcripts of your media content. This will help your videos or audio content like podcasts rank higher in search engines, and make them more accessible to viewers. Iconik even allows you to add custom vocabulary to have the most accurate transcriptions with business or industry-specific terms.

5. Increase Audience Engagement

AI transcription can also help you increase audience engagement by providing transcripts of your video content. This will allow viewers to follow along with your video, and make it easier for them to engage with your content.

How Much Does It Cost to Use AI Transcriptions?

There is no one-size-fits-all answer to this question, as the cost of speech-to-text AI transcriptions will vary depending on a number of factors, including the service provider, the length and complexity of the video, the quality of the audio, and the accuracy of the transcriptions. However, as a general guide, you can expect to pay around $0.03 per minute of video for AI transcription. You can create an estimate for this using iconik’s estimate calculator. If you prefer to use another AI service for transcriptions other than what’s provided by iconik, you can always connect your own license.

Ready to try it out?

How to Transcribe Media in iconik

From the asset view 

1. Go to the asset that you want to have transcribed
2. Click on the gearbox menu.
3. Select transcribe
4. The asset will now be transcribed in the background.

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Alternatively, you can trigger transcriptions from the transcription panel:

1. Go to the asset that you want to be transcribed.
2. Click on the icon on the left to open the transcription panel. 
3. Click on TRANSCRIBE
4. The asset will now be transcribed in the background.
5. Once the transcription is finished, you will be able to view the transcriptions

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Transcribe assets in bulk:

You can request the transcription of more than one asset from the search or collections page.

1. Search for the assets that you want to be transcribed, or visit the collection
2. Select the assets you wish to have transcribed.
3. Right-click on one of the selected assets
4. Select TRANSCRIBE from the menu.
5. The assets will be transcribed in the background.

Learn more about transcriptions in our iconik knowledgebase:

• Assets
• Transcription Overview
• Transcription Download
• Transcription Editing
• Transcription Uploading
• Transcription Viewing