Given that humans frequently have trouble understanding one another, it's very unlikely you'll ever encounter an API that can do 100%, or even 90% accurate transcription across environments.
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Isn't transcription inherently an opinionated activity, as well? In terms of how to transcribe utterances, words spoken in other languages when the main language is another, etc?
I'll be interested to see how this works in comparison when it's more broadly available. I'm guessing it will be sufficiently worse that it won't be worth using for this purpose. If it's cheap enough though I could see using it for other recordings that I don't normally get transcribed today.
btw: We no longer use MTurk, we have our own crowd now.
Automated recognition strikes me as a good place to start, though, especially for applications like search.