AssemblyAI's real-time Speech Recognition endpoint simplifies the process of transcribing audio into text without the need for fast typing skills, using a Python script enhanced by pyaudio, web sockets, and asynchronous functions. This video tutorial demonstrates how to create a script capable of listening to audio input through a microphone and displaying the transcription in real-time, which is then integrated into a Streamlit application to add an interactive element. Users are encouraged to obtain their own free AssemblyAI API token to follow along with the tutorial and experience the real-time transcription capabilities firsthand.