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In this video tutorial, the presenter demonstrates how to extract text from PDFs using Python. The tutorial involves a PDF file named "lorem.pdf," which contains lorem ipsum text and features a hidden character, Waldo, to find throughout the document. The presenter uses Visual Studio Code and activates a virtual environment, although viewers can follow along without one. They install the necessary library, PyPDF2, emphasizing the correct capitalization. After successfully installing the library and updating pip, the presenter begins creating a Python script named "pdf_extract.py" and imports the required classes from PyPDF2, specifically the PDF file reader, to initiate the text extraction process.