Microsoft AI’s MAI-Transcribe-2 undercuts OpenAI, Google and ElevenLabs on price and speed

Microsoft AI has released MAI-Transcribe-2, a speech-recognition model designed to be faster, more accurate, and cheaper than offerings from OpenAI, Google, and ElevenLabs. The company priced the service at 10 cents per hour of audio, representing a 72% price reduction from the previous model's 0.36 dollars per hour. This aggressive pricing strategy significantly lowers costs for enterprises processing large volumes of audio, potentially reshaping market dynamics and pressuring competitors to innovate within the AI transcription sector.