More accuracy. Like others have said, homonyms (their, they're, there) is easier to determine once you have more context. So then you may need to go back a couple words and update them.

Same with punctuation, you could determine that a comma belonged in a certain place once you have enough words.

In iOS this means you can edit the text as it’s being transcribed. For example, I want to dictate a todo list and after each item I can hit enter to go to the next line.