>I’m pretty sure you could record and transcribe in person meetings just as easily.

The issue is that in person you constantly have informal "meetings" where information is shared and impossible to record, unless you force everyone to walk around with sound recorders on. Which come to think of it is something that might well be done in some companies I've worked for before.

>The only problem is identifying who is speaking which could be a deal breaker for some uses.

Trivial, it's a problem that's been solved for a while and I managed to get it working in a couple of days of messing about.