Speaker identification is a crucial component of the growing speech recognition market, projected to reach $23.11 billion by 2030, as it transforms raw audio recordings into structured, labeled conversations. This AI technology, known as speaker diarization, analyzes voice characteristics such as pitch, rhythm, and timbre to distinguish and consistently label different speakers throughout a recording. Contextual information, like spoken introductions and platform metadata, enhances the accuracy of speaker labeling, turning generic speaker tags into precise participant identification. This process is essential for applications that require tracking individual contributions, such as meetings or interviews, as it enables accurate AI analysis and actionable insights. Methods for obtaining speaker-labeled transcripts include platform-native integration with video conferencing tools and AI-based diarization for diverse audio sources. While factors like audio quality and speaker count can impact accuracy, speaker identification significantly improves transcript readability and utility.