Imagine trying to organise thousands of songs. Comparing every waveform sample would be slow and not very helpful. You might care more about whether two clips share an instrument, mood, rhythm, genre, or type of sound.
An audio embedding gives a model a more useful summary. An encoder turns a sound into a list of numbers called a vector. Those numbers act like coordinates inside an embedding space. The original recording may contain hundreds of thousands of audio samples, while the embedding can have a fixed size that is much easier to compare.
The embedding is not a tiny audio file. You cannot normally press play on it or use it to recreate every detail of the recording. It keeps the information that the model learned to treat as useful for its task.