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In this video tutorial, the presenter, Jay, demonstrates how to extract text from a PDF file using Python. The example involves a PDF containing lecture notes with the aim to save the extracted text into a text file. Jay guides viewers to open their Python editor and create a new Python file. He introduces the use of the 'PyPDF2' library, which can be installed via the command `pip install PyPDF2`. He explains the process of importing the PDF file reader and writer classes, followed by creating a variable to store the file path. Jay mentions that both the Python file and the PDF are in the same folder, making it straightforward to reference the file by name.