Otter.ai, known for its voice recognition and transcription software, recently launched a new product called OtterPilot. This new product leverages AI to automate tasks and reduce manual work associated with meetings.

A new way to capture meeting notes 

Hate taking meeting minutes? Great news—you no longer have to if you use OtterPilot. Last month, Otter.ai launched OtterPilot, a new AI-fueled tool that does all of the work of a personal meeting assistant. 

OtterPilot can automatically join meetings, record shared slides, take notes, and highlight key points and action items. After the meeting concludes, OtterPilot can send a summary of the meeting with all the vital information required.

Now that hybrid and remote work is the new standard, many of us have found ourselves in an increasing number of virtual meetings. What used to be a quick in-person huddle has turned into a 30-minute video conference. This increase in virtual meetings can be burdensome for large teams or those working across various time zones, as scheduling can sometimes become quite tricky.

Virtual meeting assistants, like OtterPilot, can reduce friction in hybrid and remote environments with its features, including sending out summaries to participants so that no one is left out of the loop. In this instance, artificial intelligence does the job of offloading manual tasks and boosting collaborative efforts. The question is, who is taking advantage of these transcription tools? Is there an untapped market?

What does G2 data say about the transcription software market?

Since April 2022, the Transcription Software category has seen a 170% increase in review generation. According to G2 data, small businesses may be the leading users of transcription software. There was a 430% increase in review generation between March 2022 and February 2023 for small businesses compared to an increase of 147% for mid-market businesses and a 104% increase for enterprise companies. This is likely because smaller businesses are generally more agile and can test new tech solutions faster than enterprise-level companies.

AI-fueled solutions are on the rise, and many major tech companies are implementing artificial intelligence and machine learning. These products provide an opportunity for businesses to incorporate artificial intelligence into their tech stack in a way that brings value yet is easy to adopt, especially in a hybrid and remote world.

Edited by Shanti S Nair