In this tutorial, we learn how to create a live voice-to-text transcription application using Python and FastAPI. We use Deepgram's AI speech recognition for real-time audio transcription. The project involves setting up a virtual environment, installing necessary dependencies like FastAPI and Deepgram SDK, creating a FastAPI application, adding the Deepgram API key, getting mic data from the browser, establishing WebSocket connections between server and client, and finally processing audio to get live transcriptions. The final code for this project is available on Github.