Function calling with Ollama is revolutionizing local programming by offering compatibility with open AI models. This video provides a comprehensive guide on implementing advanced function calling using Pydantic and instructor tools. The tutorial begins with downloading the necessary models and packages, followed by creating an app.py file to define the schema and payload for fetching stock prices using company names. The process involves sending a company name to the large language model, which returns a JSON output with the company’s ticker symbol. This symbol is then used to retrieve the stock price from Yahoo Finance. The video also introduces Pydantic and instructor, tools that ensure the JSON response structure remains consistent, making the process more reliable. By the end of the tutorial, viewers will have a clear understanding of how to integrate these advanced function calling techniques into their applications.