Large Language Models (LLMs) have revolutionized natural language understanding and generation tasks but suffer from high memory consumption and slow inference times due to their large parameter sizes. Traditional model compression techniques, such as quantization and pruning, mitigate these issues but often require retraining to maintain accuracy, which is computationally expensive. This paper introduces SLiM, a novel approach for compressing LLMs using a one-shot Quantized Sparse Plus Low-rank Approximation. SLiM eliminates the need for costly retraining by combining a symmetric quantization method (SLiM-Quant) with a saliency-based low-rank approximation. Our method reduces quantization error while leveraging sparse representations compatible with accelerated hardware architectures. Additionally, we propose a parameter-efficient fine-tuning recipe that significantly reduces overhead compared to conventional quantization-aware training. SLiM achieves up to a 5.4% improvement in model accuracy for sparsity patterns like 2:4, and the fine-tuning step further enhances accuracy by up to 5.8%, demonstrating state-of-the-art performance. This work provides a pathway for efficiently deploying large models in memory-constrained environments without compromising accuracy.
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