This is a review of the Sachdev-Ye-Kitaev (SYK) model of compressible quantum many-body systems without quasiparticle excitations, and its connections to various theoretical studies of non-Fermi liquids in condensed matter physics. The review is placed in the context of numerous experimental observations on correlated electron materials. Strong correlations in metals are often associated with their proximity to a Mott transition to an insulator created by the local Coulomb repulsion between the electrons. The phase diagrams of a number of models of such a local electronic correlation are explored, employing a dynamical mean-field theory in the presence of random spin exchange interactions. Numerical analyses and analytical solutions, using renormalization group methods and expansions in large spin degeneracy, lead to critical regions that display SYK physics. The models studied include the single-band Hubbard model, the t-J model, and the two-band Kondo-Heisenberg model in the presence of random spin exchange interactions. Also examined are non-Fermi liquids obtained by considering each SYK model with random four-fermion interactions to be a multiorbital atom, with the SYK atoms arranged in an infinite lattice. Connections are made to theories of sharp Fermi surfaces without any low-energy quasiparticles in the absence of spatial disorder, obtained by coupling a Fermi liquid to a gapless boson; a systematic large-N theory of such a critical Fermi surface, with SYK characteristics, is obtained by averaging over an ensemble of theories with random boson-fermion couplings. Finally, an overview of the links between the SYK model and quantum gravity is presented, and the review ends with an outlook on open questions. © 2022 American Physical Society.