This is via ReadWriteWeb.

Starting today, Google will begin to offer auto-captioning for all English-language videos on YouTube. I just went there, and found a few videos that were captioned. It isn’t perfect, but I was able to follow the videos without too much difficulty. Not bad for a live on-the-go automated captioning!

This is from Google:

• While we plan to broaden the feature to include more languages in the months to come, currently, auto-captioning is only for videos where English is spoken.
• Just like any speech recognition application, auto-captions require a clearly spoken audio track. Videos with background noise or a muffled voice can’t be auto-captioned. President Obama’s speech on the recent Chilean Earthquake is a good example of the kind of audio that works for auto-captions.
• Auto-captions aren’t perfect and just like any other transcription, the owner of the video needs to check to make sure they’re accurate. In other cases, the audio file may not be good enough to generate auto-captions. But please be patient — our speech recognition technology gets better every day.
• Auto-captions should be available to everyone who’s interested in using them. We’re also working to provide auto-captions for all past user uploads that fit the above mentioned requirements. If you’re having trouble enabling them for your video, please visit our Help Center: this article is for uploaders and this article is for viewers.