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This video tutorial discusses converting speech to text using APIs and open source libraries. It highlights the best free speech to text APIs and top open source libraries for speech recognition. Converting speech to text is a challenging task, but there are existing solutions available. The video covers two options: using an API or an open source library. The listed services in the video offer free tiers for simple projects or to start with an MVP. The tutorial also compares the advantages and disadvantages of using APIs versus open source libraries. APIs are easier to get started with, requiring no deep learning knowledge about the underlying model.