An ASR-aided transcription system with segmented feedback training is provided, the system including a transcription process manager configured to extract a first segment and a second segment from an audio input of speech uttered by a speaker, and an ASR engine configured to operate in a first speech recognition mode to convert the first speech segment into a first text transcript using a speaker-independent acoustic model and a speaker-independent language model, operate in a first training mode to create a speaker-specific acoustic model and a speaker-specific language model by adapting the speaker-independent acoustic model and the speaker-independent language model using either of the first segment and a corrected version of the first text transcript, and operate in a second speech recognition mode to convert the second speech segment into a second text transcript using the speaker-specific acoustic model and the speaker-specific language model.