It also summarizes your full conversations.

No, that part requires intent, where you have to turn it on with the button. It was in the demo.

Regardless, you'll be mortified if you search the app store for software or Amazon for hardware devices that do this! You can still pick up voice recorders at Staples, actually (I was surprised to see they still sell them, and they have weeks of recording time now, along with transcription software).