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In this video, the speaker introduces a model called Li LT model, which is known as language independent layout transform model. The model is used to extract information from various types of documents, such as PDFs and images. The speaker explains that there has been significant progress in the document AI industry, with various models like layout LM models available. The speaker discusses different versions of layout LM models, such as layout LM version one, two, and three, and mentions the need to extract entities and relative information from structured documents like finance documents.