This tutorial demonstrates how to use Python's PyAudio and websockets libraries along with AssemblyAI's real-time transcription feature to transcribe audio from a microphone in real time. The process involves installing the required libraries, setting up an API key from AssemblyAI, creating a stream using PyAudio, making an asynchronous function for sending and receiving data, and running the code in a loop. The final result is a program that transcribes audio from the microphone to text in real time.