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Dynamic quantization is a fascinating aspect of this achievement. In layman's terms, it involves reducing the size of a large piece of data while retaining its essential features. To illustrate this concept, the video references a metaphor involving a saved image that needs to be emailed but is too large in file size. The solution here would not involve simply shrinking the entire image uniformly, as that would make it unreadable. Instead, important parts of the image are preserved in greater detail while the rest is minimized.