In the video titled “OpenAI Realtime Voice API: A 7-Minute Getting Started Guide” by Developers Digest, the host demonstrates how to set up OpenAI’s new Realtime API, which enables real-time two-way interactions using web socket technology. The tutorial covers the entire process, from cloning the repository and configuring the environment with an OpenAI API key to running the application and handling function call outputs. The video highlights the API’s capabilities, including stateful interactions and memory functions, making it ideal for building interactive applications.