The speech recognition technology was used in an online application that let people search political speeches launched in July, and now the GAudi (Google Audio Indexing) project has an official interface at Google Labs.
"Google Audio Indexing is a new technology from Google that allows users to better search and watch videos from various YouTube channels. It uses speech technology to find spoken words inside videos and lets the user jump to the right portion of the video where these words are spoken. (...) Political videos and election materials are a special case of broadcast news content, a domain that has received a lot of academic and industry attention and is known to perform well," explains the FAQ.
Source:→ Google Blog