A set of algorithms that is designed to perform a specific analysis, such as image classification or natural language processing, based on the input data it is provided. The model is trained on a large dataset, which allows it to make predictions or decisions about new, unseen data. "Model" can also refer to non-algorithmic information (an 'abstraction') used by data scientists to understand the subject matter.
"We created an ML model of our supply chain to predict how long it will take a product to get to customers from the time we begin manufacturing."