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Precis is a tool that helps users quickly understand the main points of a webpage or article by extracting and presenting the most important information in a concise format. Users can activate the extension by clicking on its icon in the Chrome browser toolbar, which brings up a summary of the webpage in a pop-up window. This can be useful for individuals who don't have a lot of time to read long pieces of content or for those who want a general overview before diving into the details.