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In this video tutorial, the presenter demonstrates how to automatically parse receipts using Optical Character Recognition (OCR) in Python. The aim is to track finances and build an automated billing system by processing receipts from various stores. The tutorial features two images of receipts from Costco and Walmart, emphasizing that high-quality scans are not necessary; simple photographs taken with a phone are sufficient for parsing. The video will guide viewers through using this computer vision technique to extract information from these receipts.