Apparently Google has a project in the works to use it's Gaudi (Google Audio Indexing) technology to, basically, create a transcript of any video with speech in it! The project is to help better categorize and catalog video files (moreso than limited meta-tags), as well as make them completely searchable like a written document.

They are starting with political speeches. Imagine being able to look up that speech where you know a politician promised something contrary to his policy decisions (oh, wait, that's probably most speeches) – instead of thinking Man, I know he said he would decrease subsidies for large-scale farms, but I can't remember when. With the Gaudi index, now you have the ability to search for "large-scale farms" and "subsidies" and come up with all speeches where those terms are mentioned.

Imagine the other implications of this software! I know Microsoft OneNote has a similar function, to provide search ability to the audio of your recorded video and aural notes. More on this at CNet News.