This episode explores the evolution and challenges of Recurrent Neural Networks (RNNs), specifically focusing on their application in language modeling and machine translation. Against the backdrop of limitations in traditional N-gram models, RNNs emerged as a promising architecture capable of handling sequential data. More significantly, the lecture delves into the shortcomings of basic RNNs, such as vanishing and exploding gradients, which hinder their ability to capture long-range dependencies in text. The introduction of Long Short-Term Memory (LSTM) networks is presented as a solution, addressing these issues through a sophisticated gating mechanism that allows for better information preservation. For instance, the lecture uses the example of predicting a word based on context several words earlier in a sentence to illustrate the importance of long-range dependencies. The episode concludes by highlighting the transformative impact of LSTM-based neural machine translation, showcasing a significant leap in accuracy and efficiency compared to previous statistical methods, and emphasizing the broader applicability of encoder-decoder models in various NLP tasks.