Speechmatics is a leader in automatic speech recognition (ASR), which converts speech to text. Our innovations allow for a variety of applications including transcription services, media monitoring, audio archiving, dictation and voice control.
In this way, Speechmatics makes speech simple by rendering audio (-visual) content more interpretable and searchable. More than 80% of the information on the internet is in audio or video format. This information is difficult to manage as it is not easily searchable unless converted to text. This challenge is critical for companies and governments who need to know what is happening in the world in real-time. A service that is currently provided at high costs and slow turnaround times. Furthermore, archives around the world hold millions of hours of recorded history, which cannot be searched or accessed easily at the moment.
Finally, the advent of government regulations such as Dodd-Frank require increased transparency and compliance of financial institutions, with a lot of transactions being agreed over the phone or in meetings, something that is very challenging to monitor if audio recordings are not converted into a searchable format. Consequently, there is a large market need to convert speech to text.
Speechmatics was incorporated in 2009 and started commercialisation in August 2014. We have assembled a world-class team, including a world leader in speech recognition, serial entrepreneurs and collaborate with some of the world’s leading research institutions.