Otter.ai is a transcription tool powered by AI that transforms spoken words into text instantly. It provides functionalities such as speaker recognition, real-time transcription, and joint editing, perfect for professionals, academics, and learners. The platform connects with applications such as Zoom and Google Drive for streamlined sharing and organisation. Otter.ai provides a free plan that includes 300 minutes of transcription each month, while its paid plans come with additional features like increased transcription limits and personalised vocabulary choices.