Then, the co-founders could build powerful AI-based tools on top of this transcription data. One of these tools includes Magic Cut, which uses AssemblyAI's industry-leading Universal Speech-to-Text model to "slice up" the video based on the transcript and then create a perfect video based on this text. The key, of course, is a highly accurate transcript — any error in the transcription could cause the entire process to break down.
Magic Cut is an "incredibly powerful" tool for their users, they explain.