The Long Short-Term Memory (LSTM) model is a type of recurrent neural network (RNN) that is particularly effective in processing and analyzing sequential data. It is designed to address the vanishing gradient problem in traditional RNNs, allowing it to capture and retain long-term dependencies in the data. In the context of audio data for speaker identification or verification, the LSTM model can be trained to learn the patterns and characteristics of different speakers' voices, enabling it to accurately classify and identify speakers based on their voice samples.