The Future of the Transcription Industry

Most people are vaguely aware of the concept of transcription, but few people understand the huge role it plays in their life. Every major sector, including research, automotive, government, and retail, uses transcriptionists. They allow companies to keep accurate records, develop new products, and improve training. Even as technology changes at a rapid pace, transcription is not going anywhere.

A popular topic in transcription is the proliferation of speech recognition technology and how it may be the future of the industry. The speech recognition industry is expected to triple over the next five years. Text-to-speech technology continues to grow in popularity on phones, tablets, and computers. Of course, nobody can say for sure where the industry is moving, but it is worth considering the possibilities.

The U.S. Bureau of Labor Statistics shows that the job outlook for transcriptionists varies depending on the actual job title. For example, the outlook for medical transcriptionists is expected to decrease based on advances in speech recognition. On the other hand, general transcriptions may see more job opportunities solely based on offering services for multiple industries. Legal transcriptionists have a better job outlook than medical transcriptions, but it may begin to grow at a slower rate than average.

Transcription is important, and it is not going anywhere. It plays a role in legal decisions, health care, and legislation. Jobs may not be prevalent in medical or legal transcription, but there will be plenty of work in general transcription. It may take some time before we know where the future leads the transcription industry, but it is clear that this industry will continue to be a vital part of business.