Apologies for cross-posting (have also posted this in the Accessibility discussion area).
Hi folks,
(Thanks to my excellent colleague Lilian Soon‚Äç for sharing this information with me!)
It sounds like Google Chrome v85 will have inbuilt auto captioning features.
You can read about them at the following page, which also explains how you can try them out in the current beta (warning: this site has a lot of adverts, apologies in advance!): First Look: Live Captions on Chrome are Mind-Blowing.
This works with Collaborate, and anything else running through Chrome web browser.
Remember: You can also play local audio and video files from your own computer within Google Chrome by clicking and dragging them into the browser window, they will then also get auto-captioned.
Extra handy for Mac users wanting to share audio/video in Collaborate, as they have to do it through a browser tab.
Something to test out!
Here's a video of me playing around the the Chrome auto-captioning.
Apologies for the spotty audio in places, and the sound of the washing machine in the background.
In addition to the above, Google's "Live Captioning" app is now available on Android devices.
I'm not aware of an equivalent on Apple, at least not amongst their native accessibility toolset.
 
!!!Update September 19th:
Another update related to this functionality:
A related tool (thanks again to my colleague Lilian Soon‍ for flagging this to me): webcaptioner.com's word replacement tool.
To quote Lilian, "Just come across this amazing implementation of the Google Speech-to-Text web api! It does the live captioning and allows you to store words to favour (like 'vle' perhaps?) and will allow download of the captions afterwards as a transcript.
Will still only work with web-based webinar or video but has huge potential."