With iOS 17, incoming voicemails can be transcribed in real time and appear as text on your iPhone lock screen. The feature is called Live VoiceMail.
It’s turned on by default in iOS 17. However, if you want to turn it off, or if for some reason it isn’t on, go to Settings > Phone > Live Voicemail > and then toggle the switch.
With Live Voicemail enabled, when a voicemail is incoming, tap the Voicemail icon on the bottom right of your iPhone screen. The smartphone will kindly send an automated message notifying the caller that you’re using the transcription service.
As the person talks, the iPhone will display a live transcription of what’s being said. You can, of course, answer the call or use the Message option to respond.