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In this tutorial, Greg from SharePoint Maven demonstrates how to hide fields in a SharePoint list or document library using conditional formulas. He uses a document library with two metadata columns: a status column (with options for active and inactive) and an expiration date column. Greg explains that currently, the expiration date field is always visible when users fill in the metadata. He aims to configure it so that the expiration date column only appears when the status is set to active. If the status is marked as inactive, the expiration date field will remain hidden, enhancing the user experience by only prompting for necessary information.