Latent means hidden. Latent space can also be known as the embedding space
Latent Space refers to anĀ abstract multi-dimensional space containing feature values that we cannot interpret directly, but which encodes a meaningful internal representation of externally observed events.
The motivation to learn a latent space (set of hidden topics/ internal representations) over the observed data (set of events) is that large differences in observed space/events could be due to small variations in latent space (for the same topic). Hence, learning a latent space would help the model make better sense of observed data than from observed data itself, which is a very large space to learn from.