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In this video tutorial, the presenter introduces the LiLT model, which stands for Language Independent Layout Transform model. This model helps extract information from documents, such as PDF or image documents, and can be fine-tuned on annotated datasets. The document AI industry has seen significant progress in developing models to extract information from various types of documents like PDFs or finance documents. Different versions of layout LM models, such as Layout LM version 1, 2, and 3, are available for this purpose.