This article describes how licensed video administrators can click a button and create time-stamped video caption files.
When you click the blue "Generate Caption" button in the right sidebar on the Edit Video page, it will automatically generate a time-stamped WebVTT file. It will load this WebVTT-formatted text into a metadata field labeled "Transcript". If you are using a player that supports Closed Captioning, a CC button will appear in the player controls. Turning on Closed Captions will display text at the bottom of the screen corresponding with the dialog in the video.
Please note that only English-language videos can be automatically transcribed at this time.
You should expect the speech-to-text accuracy to be between 80-90% depending on various factors including voice quality (professional actors typically enunciate better), background noise, and industry (Latin medical terminology and proprietary product names often need correction). You can make changes directly within the "Transcript" metadata field (be sure to save those!), or you can download your transcript and edit it offline, then re-upload your edited version.