Google's pretty good at search technology. The ability to search beyond plaintext, such as speech recognition, remains something of a distant goal, especially compared to what EveryZing does with speech to text.
Cracking open speech in videos opens that video content to universal search. Google wants to do this to improve its search relevancy. To demonstrate what they have accomplished so far, Google announced an Elections Video Search gadget from their Research group.
The new entry for iGoogle "only searches videos uploaded to YouTube's Politicians channels." Those include speeches by Presidential candidates John McCain and Barack Obama, along with speeches made by other politicos that have been added to the relevant channel.
"Speech recognition is a difficult problem that hasn't yet been completely solved," Google said, which we take to mean they haven't solved it yet. But the research continues as they strive for better accuracy and more relevance in search results for video.
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