The following Google I/O 2011 video is highlighting "The YouTube Caption API, Speech Recognition, and WebVTT captions for HTML5".
As the session's title suggests, a number of different topics were covered, with video accessibility and captions the common theme throughout.
The talk also includes some early WebKit demos of WebVTT implementations for the <track> element in HTML5 as well as more information and stats about the Live Caption gadget launched at Google I/O. The gadget provides captions alongside streaming video."
[Source: YouTube API nloh]