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In this video, Shrini discusses evaluating semantic segmentation using the intersection over union (IoU) approach. Semantic segmentation involves classifying individual pixels in an image instead of labeling the entire image (e.g., distinguishing between pixels of a cat or a dog). The video emphasizes that accuracy, commonly used in metrics from libraries like Scikit-learn, can be misleading, especially in cases of class imbalance typical in multi-class scenarios. Thus, relying solely on accuracy is not effective for semantic segmentation tasks.