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In today's video, the narrator introduces a free software called oTranscribe, which is a basic transcription tool with a clean interface, audio control, and variable speed. However, it lacks advanced features like speaker tagging. Express Scribe, on the other hand, is a professional transcription software with more complex features that may require training. The narrator recommends a transcription tool called Go Transcript, which falls between oTranscribe and Express Scribe in terms of functionality and ease of use. To access Go Transcript, visit their website and scroll to the bottom of the page.