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This video introduces conditional random fields in natural language processing, discussing how they compare to other classification models such as HMMs, naive bayes, and logistic regression. The video explains the intuition behind the design of conditional random fields and walks through the equations used for classification and parameter training. CRFs are known for categorizing different types of classification techniques and provide multiple labels for cohesive text instances, distinguishing them from other models like naive bayes and logistic regression which provide a single label.