Also, have you heard of Conformer-1 by Assembly-AI[1]? It released a few days ago and supposedly scored higher than Whisper on various benchmarks.
As for speed I have no idea how they make it so fast, but I'm sure they've written about it somewhere. My guess is at least that they are slicing the audio and parallelising it. Will look into Conformer-1 as well!
Whisper is mostly an academic toy.
Yesterday I wrote virtually all the prose in the manuscript while walking around with a friend and discussing it. We didn't even look at the phone.
Obviously there's an academic element here because I'm saying I'm using it for writing. But it's more of a human-centric computing thing. I'm replacing a lot of time that my thumbs are spent tapping on keys, my fingers are spent tapping on keyboard, and my eyes are spent staring at the words that are appearing, looking for typographical errors to correct, with time organizing my thoughts in a coherent way that can be spoken and read easily. I'm basically using whisper to create a new way to write that's more fluid, direct, and flows exactly as my speech does. I've tried this for years with all of the various ASR models on all the phones I've had and never been satisfied in the same way.
I also use whisper.el on emacs. It's amazing. Much more powerful but computer based of course.
That's a big deal for someone who wants to build something using speech recognition (voice assistant, transcription of audio or video) without resorting to APIs.
Look, it's nice that it's out there and free to use. For the sake of my wallet I hope it gets really good. But it isn't competitive with top of the line commercial offerings if you need to ship something today.
While true real-time would definitely be nice, I can approximate it well enough with various audio slicing techniques.
Vocode uses Whisper for real-time zero latency voicechat with chatGPT. Give their demo line a call to see how well it works: +1-650-729-9536
Another is Deepgram. Even this obscure vendor seems to be able to handle the samples I tried better than Whisper: https://picovoice.ai/platform/cat/
But yeah, go with Azure as your starting point. It is good and the price is likely acceptable unless you're transcribing all of youtube.
Lowest WER in the industry, cheaper than Whisper API, and we have an on-prem solution