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In this video tutorial, the presenter demonstrates how to make money by transcribing audio into text using a transcription tool called otter.ai. The tool is based on AI algorithms and offers 600 minutes of free transcription. Users can log in with their Gmail account, import audio files, and let the tool transcribe them. The presenter praises otter.ai as one of the best transcription tools they have used and mentions that there are other similar tools available as well.