Comment Combined (Score 1) 120
The most obvious approach is to combine the 2 methods - much like humans do, especially in noisy environments. It might improve the accuracy of current speech recognition which is, too be honest, still sub-standard.
Speech recognition as is now is way too limited. Sure, Siri and the likes may work. And some computerized phone systems use it to nag us instead of using reliable button clicking. But it is still far from transcribing an accurate memo. Let alone automated subtitling or other fancy applications.
So yes, please, develop it, and use it to improve overall speech recognition.