It has been a while coming and many have seen it as a predictable move but Google has finally promoted Google Audio Indexing to Google Labs. At the moment the only videos in the application are political, however Google will be expanding its archive in the future.
This development indicates how Google will attempt to monetise YouTube, which has been relatively unprofitable since its $1.6bn acquisition in 2006. At the moment search on YouTube relies on the additional meta data provided by content publishers to rank the videos. This is obviously open to abuse. The addition of Google Audio Indexing would allow YouTube to rank videos even more accurately and potentially translate videos into many languages using Google Translate.
The potential for search engine marketing is great, already we produce videos to promote clients products which generate relevant traffic to their sites. Google Audio Indexing has the potential to reduce the amount of additional work involved in this process and broaden the range of users viewing this content.