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Microsoft Teams has recently introduced new features and improved existing ones, particularly focusing on the new transcription feature in this video. To enable transcripts during a meeting, navigate to the ellipsis and select "Start Transcription." A transcript pane will open, and it's recommended to announce the activation of transcripts; a banner will notify all attendees. The transcript logs the conversation, showing the speakers' names, profile icons, and timestamps. If you prefer not to view the transcription pane while the conversation continues, you can select the ellipsis and choose "Hide Transcript." Next week, the video will also cover the automatically generated attendance list for meetings.