This is a pretty reasonable thing, you're the one who uploaded the material, you're responsible for it, especially since zoom isn't checking/filtering what you upload/share.
There may be a setting you can set in the application to disable this. I don't know, I don't use Zoom.
But in any case, I think you hit the nail on the head. Just from a plain English perspective:
10.1 says that content you (as host or participant) upload to Zoom, may be used by Zoom to provide derivative information. An example listed is transcripts. Both the information you upload, and the information Zoom provides, is "Customer Content". Customer Content is your responsibility.
10.3 and 10.4 covers a wide variety of purposes for which Zoom can use the Customer Content.
10.5 says that Zoom will reasonably protect Customer Content from unauthorized disclosure, etc., but that it has no other obligations with respect to Customer Content. In particular, it can share the Customer Content with their "consultants,contractors, service providers, subprocessors, and other Zoom-authorized third parties accessing, using, collecting, maintaining, processing, storing, and transmitting Customer Content on Zoom’s or your (or your End Users’) behalf in connection with the Services or Software".
17.1, the confidentiality clause, says that Customer Content is not confidential information. That suggest the obligations of confidentiality, such as disclosing to third parties only with a confidentiality agreement in place, do not apply.
So if I'm reading this right, Zoom can disclose your meeting transcripts [edit: I meant audio of your meeting] to a third party, without an obligation of confidence between Zoom and that third party, so long as it is for the purposes of providing you the transcript feature.
Which is really strange, to say the least. At minimum I would expect Zoom to treat Customer Content as confidential.
Wish a lawyer could read this and give us (free) insight.
Absolute BS, this isn't youtube, call it what it is... eavesdropping on two way communication for personal gain. They are misusing IP law to cover their arses for stealing information that is legal to share between the people in the call but not legal for them to steal.
Every business should be fleeing from Zoom right now. All your internal comms are going to be exposed to their LLM... if you have trade secrets discussed over zoom calls, you should assume they can be extracted by others with access to the LLM.
Zoom says they might use this data to train their AI. If the AI produces a close-enough copy of copyrighted material or if it spews out company secrets, someone _will_ sue Zoom for this.