ElevenLabs is launching its own speech-to-text model

ElevenLabs, an AI startup that just raised a $180 million mega funding round, has been primarily known for its audio generation prowess. The company took a step in another technological direction by launching its first standalone speech-to-text model called Scribe. The startup, valued at $3.3 billion, has aided many other companies in providing speech-to-text services through its vast library of voices. However, the company is now looking to get into speech detection and compete with the likes of Gladia, Speechmatics, AssemblyAI, Deepgram, and OpenAI’s Whisper models. ElevenLabs’ Scribe model supports over 99 languages at launch. The company categorizes over 25 languages in excellent accuracy category for the model where the word error rate is less than 5%. This list includes English (claimed accuracy rate of 97%), French, German, Hindi, Indonesian, Japanese, Kannada, Malayalam, Polish, Portuguese, Spanish, and Vietnamese. Other languages are ranked in different categories with high ... Read full article.