What is AI Transcription and How Is It Changing the Industry
With so much audio and video content readily available, there is a rising demand for transcription services. With the rising demand for this artificial intelligence technology converting audio into text has made severe technological advancements and is becoming more readily available. The main demand for this impressive technology is in the legal, medical and business sectors, however, it is not limited to them.
This article will focus on the legal and medical industries and how this advanced piece of technology is changing their industries for the better.
Working within the legal industry can be very time restrictive and the advancements that were made in AI transcription have greatly changed how some law firms operate. Legal transcriptions services like the one provided by Verbit have allowed law firms to start operating more efficiently. Law firms that make use of this technology can speed up their transcribing abilities and have their staff micromanaged to handle higher workloads in less time.
This increase to the speed at which they operate allows them to handle more clients and in the long run increases a law firm’s financial earnings. Another way which it is increasing their earnings is the need now for less staff at a firm. The need to hire individuals to help with transcribing is decreasing as they can manage their AI transcriber to help handle all their needs. Furthermore, these AI services are reducing human error from the equation allowing attorney’s more time to work on their cases. By reducing these errors and giving attorney’s more time to prepare their cases, they are seeing a higher success rate increasing their law firm’s reputation. There is strong evidence to suggest an increase in success rates at law firms that use an AI transcription services as opposed to those that don’t. Currently, courts are still operating using stenographers but as the industry continues to change it is likely we will see them begin to use AI transcription services as their main method for transcribing.
The medical sector is reaping most of the same benefits as the legal sector when it comes to using AI Transcription services. Much like in the legal industry those in medical professions will find their roles very time constraining and often look to get the most out of their time. Using an AI transcription service can give doctors more time with patients or even just allow them to help a higher number of patients.
The reduction of error is again another benefit in making those in a medical profession work more efficiently. In a medical profession prescribing errors can be deadly whether it is in someone’s prescription strength or how often a medicine should be taken. There is a whole host of reasons why errors can’t be afforded in the medical profession and the reduction of error is helping change the industry for the better. Furthermore, the reduction of error is extremely beneficial in avoiding the misery of delays from errors on medical insurance forms. As the information will always come out accurate insurance claims will be processed with relative ease. AI transcription services are being used by more and more people in the medical profession with the noticeable impact it is having on the industry.
With AI transcription services being used so effectively in the medical and legal sector already it is only going to increasingly find its way into more professions. As the demand for the technology grows the advancements to this technology continues to grow. What further advancements it will continue to make aren’t clear yet but for certain it is a massive game-changer in certain industries.