American multinational corporation and technology company, Microsoft, has launched a lightweight and affordable artificial intelligence model code-named: Phi-3-mini.
This launch indicates the company’s strategic efforts to provide more reasonably priced solutions in the quickly changing AI technology market in order to appeal to a wider clientele.
The new AI model is currently easily accessible on Hugging Face, a machine learning model platform, Azure, Microsoft’s cloud service platform, and Ollama, a framework for local machine model deployment.
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3.8 billion parameters make up the Phi-3 Mini, which was trained on a smaller dataset than large language models such as GPT-4. Hugging Face, Ollama, and Azure are currently selling it.
Sébastien Bubeck, vice president of GenAI research at Microsoft, discussed the affordability of the Phi-3-mini and emphasized its notable cost advantage over similar models available on the market.
“Phi-3 is not slightly cheaper, it’s dramatically cheaper,” Bubeck stated, noting a cost reduction of up to tenfold compared to its competitors with similar capabilities.
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