LLaMA-3 is Meta's second-generation open-source Large Language Model (LLM) collection that offers models in sizes of 8B and 70B for various NLP tasks. Fine-tuning an LLM like LLaMA-3 involves adjusting its pre-trained weights on new data to enhance task-specific performance. The article focuses on fine-tuning LLaMA-3 8B using Hugging Face's transformers library and evaluating the fine-tuned model using DeepEval, all within a Google Colab notebook. Fine-tuning comes with benefits such as 10x cheaper inference cost and 10x faster tokens per second compared to relying on proprietary foundational models like OpenAI's GPT models. However, it requires careful consideration of training data quality, prompt templates, and evaluation metrics to ensure accurate results. The article provides a step-by-step guide on fine-tuning LLaMA-3 using QLoRA (quantized low-rank approximation) configuration and evaluating the model with DeepEval.