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In this video, Kevin introduces a new feature in Word Online called "transcribe." Unlike traditional dictation, which converts speech to text in real-time, the transcribe function allows users to record audio beforehand. Users can record interviews or lectures using their phones and then upload the audio file to Word Online for transcription. A key advantage of this feature is its ability to identify and differentiate between multiple speakers in the recorded conversation. Kevin plans to demonstrate how the transcribe feature works in the tutorial.