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Thanks. What are quantized models?
I'm going to simplify a little here, so don't take this completely at face value.
Models are, quite literally, long series of numbers (called weights). A model might store the weights in 16 bit numbers (that is, 16 binary digits). The size of the model (and how much memory it needs) is determined by how many weights there are, and how many bits each weight takes. You can take a 16 bit model and rework it to use 8 bit, or even 4 bit numbers. The result intuitively behaves a lot like the same model, but with less precision to the weights. That makes the model take way less space in ram, but also makes it more likely for concepts (encoded in the weights) to overlap, which impacts model quality. Often the effect is that fine distinctions get lost.
Kind of like "compressed". It takes longer/more effort to run them, to produce the same result as a the same model that has not been quantized, where that non-quantized version would consume significantly more RAM but produce the result faster. You would typically only run the quantized model when you're starved for RAM, which most of us are running LLMs locally.
Think like zipping a file with file compression. It takes less space, but has to be unzipped for you to have usable files again.