For clear audio in select languages, yes. While 100% accurate automated-transcription is still a hard problem for computers to solve, technology has improved sufficiently in recent years for us to get close to 90% accuracy for clear, well-recorded audio in select languages.
We also have a dictation feature that converts your voice (fed as direct input to your microphone) to text through voice recognition. We support English, Spanish, French, Hindi and almost all other European & Asian languages.
If you're unable to use automatic transcription or dictate your audio, we still have something to offer. We're aiming to make the process of human transcription easier and help save a lot of time for our users. Transcribe does that by putting the audio player and the text editor on the same screen. So you no longer need to keep switching between two different applications, and can transcribe the audio as you listen to it. Transcribe allows you to slow down the audio to match your speed of typing and also offers other shortcuts for rewinding, fast-forwarding, pause and resume. The text is saved automatically after every keystroke. Many of our customers claim that this has easily halved the time they used to spend transcribing otherwise.