Real-time transcription in Python with Universal-3 Pro Streaming

This tutorial shows you how to build a real-time speech-to-text application in Python that transcribes speech as you speak, delivering results in under 300 milliseconds. You'll create a streaming transcription system that processes live microphone input and displays formatted text with proper punctuation and timing information. You'll use AssemblyAI's Universal-3 Pro Streaming model through WebSocket connections, the Python SDK for audio processing, and PyAudio for microphone capture. The tutorial covers setting up event handlers, configuring turn detection parameters, and implementing advanced features like dynamic keyterms prompting and mid-stream configuration updates for production voice applications. What is real-time transcription? Real-time transcription is the process of converting speech-to-text as you speak, not after you’re done talking. This means you get transcripts in under 300 milliseconds while the conversation continues. Think of it like live TV captions—words appear o