In this tutorial, a live transcription iOS app is built using Deepgram's Speech Recognition API and the WebSocket library Starscream. The final project code can be found at https://github.com/deepgram-devs/deepgram-live-transcripts-ios. To create the app, users need a Deepgram API Key and Xcode installed on their machine. The app uses AVAudioEngine to access audio data from the microphone and sends it to Deepgram for real-time transcription. The resulting transcriptions are displayed in a UITextView within the iOS app.