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In this video tutorial, the speaker demonstrates how to make money by transcribing audio into text. They recommend using the website otter.ai, a transcription tool based on artificial intelligence. Users can log in for free and receive 600 minutes of transcription, with the option to purchase more or use multiple accounts. The process involves uploading audio files to the dashboard and letting the tool transcribe them automatically. Otter.ai is highlighted as one of the best transcription tools available.