Prompt engineering plays a crucial role in leveraging language models for various use cases such as writing, summarizing, rewriting, and text extraction. Writing tasks involve creating content like product descriptions, emails, and chatbot responses by providing specific prompts related to the purpose. Summarization helps condense large volumes of text, such as customer reviews or reports, into concise summaries. Rewriting tasks focus on modifying text to suit different audiences or correct transcriptions. Text extraction involves pulling out key information from longer texts, such as contracts or emails, by specifying the desired details to extract. These tasks showcase how prompt engineering can streamline and automate routine tasks, allowing users to focus on more creative endeavors.