As theres been two whaz zhat's :-/
Beat matching & Audio quantize :-
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Beat matching is a way of matching two tracks of audio to the same tempo BPM .
Real time matching means adjusting the Tempo of the audio while the music plays to the source tracks timing . Just like a DJ does with vinyl .
Auto means exactly that ! "it does it by it self" . AKA automatically !-)
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Audio quantize is similar to midi quantize but with audio .
You can set 8th 16n 32n etc , and the beats or sound within a audio sample "track playing " are adjusted to the setting made.
I.e If a drum beat or sound is "off time" it will be shifted to the nearest note , forwards or backwards whichever nearest ..
at the current BPM .
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This is useful on badly played parts or multi track recordings esp drum tracks ,
or with long tracks using midi clock as timing & long recording passes ,
For instance drum machines can lag -+ 1ms or 2ms when they change patterns or receive a program change to do so ,
thus over many track recordings they run out of sync to the computers audio , sounding loose or messy at that point ,
also much midi equipment has different response times leading to delays & sync timing glitches ,
this could be fixed with the above "Auto" Beat matching & audio quantize ..
Live already contains time stretching & warping , but it's not automatic apart from on small loops and samples
& across 20 or so audio tracks within an mixed album aprox 80 mins , it's daunting to get to grips with , even when Llve is running without crashing..
Again , any tips on timing tracks please post below .
kp