Speech recognition technology works by converting spoken language into text through a series of complex processes. It utilizes machine learning algorithms to analyze audio signals and identify phonemes, the smallest units of sound. This involves feature extraction, where the system captures essential characteristics of the sound wave, followed by pattern recognition to match those sounds to words in a predefined language model. The technology also employs natural language processing (NLP) to understand context and improve accuracy. Overall, speech recognition enhances user interfaces, enabling hands-free control and facilitating accessibility in various applications.