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In this tutorial, Greg from SharePoint Maven explains how to hide fields in a SharePoint list or document library using conditional formulas. He demonstrates this with a document library containing two metadata columns: a status column (with options for active and inactive) and an expiration date field. Currently, the expiration date field is always visible regardless of the status selected. Greg aims to configure the system so that the expiration date field only appears when the status is marked as active. If the status is set to inactive, the expiration date field will not be displayed. This improves the user experience by showing relevant fields based on conditions.