What is the difference between using `.exists?` and `.present?` in Ruby?

What is the difference between using .exists? and .present? in Ruby?

I want to ensure I’m using them correctly and understand any subtle differences. They seem to serve the same purpose—checking if an object field is defined—when used in the console. However, I couldn’t find much information online.

Can someone explain when to use Ruby present vs. .exists? and highlight their key differences?