OpenAI has released GPT Transcribe and GPT Live Transcribe, two new speech recognition models available through its API. GPT Transcribe handles pre-recorded audio files, processing them about 34 times faster than real time, while GPT Live Transcribe is built for real-time streaming with low latency. According to Artificial Analysis, which runs the AA-WER benchmark, GPT Transcribe hits a word error rate of 3.31 percent, a 0.7 percentage point improvement over its year-old predecessor GPT-4o Transcribe. Pricing drops 25 percent, landing at $0.0045 per minute of audio. Both models accept text as transcription context, keywords, and multiple input languages. In the AA-WER ranking, OpenAI still sits behind several competitors: ElevenLabs Scribe v2 leads with a 2.3 percent error rate, followed by Google's Gemini 3 Pro at 2.9 percent and Mistral's Voxtral Small at 3 percent. Mistral recently undercut the market with Voxtral Transcribe V2, starting at just $0.003 per minute.