This article provides a step-by-step guide on how to create speaker-labeled transcripts using Google Colab and Deepgram, an advanced speech recognition technology. The process involves installing necessary coding packages, uploading audio files into the notebook, modifying variables such as API key, MIMETYPE, and DIRECTORY, running the code to transcribe audio files, and finally creating a diarized transcript in human-readable format. Deepgram's capabilities also extend to summarizing or translating these transcripts.