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I had used Dragon Naturally Speaking in the last millennium. In those days, it was not very accurate and I had trouble even guessing what I had said in order to correct it. However, I would hope that it is a much better product by now with additional years of refinement and with faster, more powerful PCs that can support more advanced recognition algorithms. You can get a free trial version.
For a 50 minute long meeting you are better off transcribing it yourself.
Since it's a meeting there will probably be difference people speaking.
It may take you 2 hours to transcribe it - however cleaning up a badly auto-transcribed file may take longer.
“That which can be asserted without evidence, can be dismissed without evidence.”
Go to YouTube and upload your video file. If you have an MP3 audio file, you may use a tool like Windows Movie Maker, iMovie on Mac or FFMpeg to convert the audio into a video file before uploading to YouTube.
Wait for YouTube to completely process the video. The machine transcriptions may not immediately become available after uploading the video.
The best way to improve Windows is run it on a Mac.
The best way to bring a Mac to its knees is to run Windows on it.
~ my brother Jeff
Dragon Naturally Speaking is the best. Our patients disabled used it when I worked at the hospital. Over the years it has improved very much. The problem, for your colleague, is that the voices, at the meeting, will be all different. The software works best with one voice though, as a joke, I tried the set up that one of the female occupational therapist had made and with my voice (male) it was about 80 to 85% accurate, much to my surprise! I must point out that we had the same accent and this part is very important.
It is conceivable that with a combination of Dragon and transcribing it still might save some work.
Dragon Voice Writer works good. I think you need Professional to transcribe from a file instead of a microphone. Teaching it to recognize your voice takes about 15 minutes. After version 10, it got pretty darn accurate. ... Careful, it can tell if you've had a couple beers. (A Ray Kurzweil product... I think.)
Google Docs does this... under the Tools menu choose "Voice typing..."
You might be able to play the recording into the microphone, or if the quality isn't very good you may need to actually listen to the recording using headphones or something and then use your own voice to repeat everything said in the meeting.