Building a model from scratch requires a great deal of time and effort. When innovations are happening at a break-neck speed, concentrating all the efforts on building models could prove counterproductive. Apart from time and effort, building models could also set companies back financially, especially startups. Enter pre-trained models. Put simply, it is a model created by a third party to solve a business problem. While it may not be 100 percent accurate, it saves time and effort in building a model from the ground up.

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The Modzy press originally appeared at analyticsindiamag.com