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In this tutorial, Mike explains how to set up read receipts and delivery receipts in Outlook email. These features are useful for urgent emails or follow-ups, allowing users to receive notifications when their emails are read. This helps in managing communication and prevents emails from getting overlooked. To set this up, users should go to Outlook, click on 'Compose' for a new message, fill in the required details, and then locate the three dots at the bottom of the screen. The process is similar for both the desktop and web versions of Outlook, where users can find the read receipts option.