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In this tutorial, Kevin introduces a new functionality in Word Online called transcribe. While dictation has allowed users to speak and convert their words to text in real-time, transcribe offers the ability to record audio in advance. Users can upload audio files, such as recordings from interviews or lectures, into Word Online to receive a transcription of the conversation. Additionally, the transcribe feature can identify different speakers in the audio, enhancing the transcription process. Kevin will demonstrate how this new feature works in the video.