What is a model template in the context of classification and regression?

This article defines a model template in the AI & Analytics Engine in the context of classification and regression machine learning problem.

For classification and regression  apps on the Engine, a machine-learning model template, or more commonly known as a machine learning algorithm, is a program (math and logic) that will learn the relationship between the predictor and the target variables from the data they are exposed to, in such a manner that it can reliably estimate the latter from the former.

These programs are then able to make predictions of the target variables from a set of predictor variables based on the relationships between the predictor and target variables it learned during training time.