Google Video and YouTube have recently announced new features that support automated captioning and automated timing for video that will help hearing impaired people.
This can only be a good thing, and indicates just how far new technologies have come to enable advanced speech recognition (ASR) to automatically generate captions for uploaded video. Well done! This is all still being rolled out to support languages other then English, but it’s only a matter of time for wider adoption of this development to support issues of accessibility for video content.
You can read more about this on the Google Blog post: Automatic captions in YouTube.