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In this YouTube tutorial, the focus is on fine-tuning a large transformer model, specifically the T5 model on Google's NLP picture. The model being used has 24 layers and 770 million parameters for paraphrasing applications. The necessary libraries, such as PyTorch and transformers, are connected to a GPU (Nvidia Tesla V100) for efficient processing. The T5 fine-tuner section includes defined functions, and the next step involves loading the Google-created dataset "pos," which is ideal for fine-tuning paraphrasing applications.