Why system says I do not have enough memory?

I have an Ollama service run inside a docker compose project, when I try to use phi,

ollama run phi

ollama run phi

ollama run phi

ollama run phi it says:

Error: model requires more system memory (4.6 GiB) than is available (2.6 GiB)

Error: model requires more system memory (4.6 GiB) than is available (2.6 GiB)

Error: model requires more system memory (4.6 GiB) than is available (2.6 GiB)

Error: model requires more system memory (4.6 GiB) than is available (2.6 GiB)

My server has 8GB RAM, why does the systems "see" it only 2.6GB? I do not limit any resource in my project/services.