YouTube has moved its automatic speech-recognition and closed-captioning technology out of beta and have now made it available to all. It also includes two BETA features, on-the-fly language translation and audio transcription, and both are still quite buggy from my observation.
You may watch the video below and play around with the new Captioning feature. Play with the two BETA features and you should observe the many "bugs".
YouTube Makes Captioning Available to All [via]
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