The Auto Correct feature fixes capitalization and typing errors that occur as you type. The option is on by default. This can be accessed
by using the menu bar option 'Tools -> Autocorrect Options'. AutoCorrect Text in Microsoft Powerpoint 2002
In the above example, all the autocorrect options are enabled from the 'Tools' menu.
This automatically corrects texts for common typing errors in powerpoint.
The text 'alot' typed in together is corrected to 'a lot' automatically.