How to choose LLM for your project in 2024
A discussion of the most popular LLMs for creators and entrepreneurs
There are dozens of key and hundreds of (relatively important) large language models on the market today. And, given the speed at which new LLMs appear (now every couple of days), it is almost impossible to list them all. Fortunately, we don't really need to
Whether you are building an AI App or simply need to choose AI model to improve your unique personal use case, your choice will impact everything (from quality of responses to cost of usage).
In today's edition, we list four of the most useful and sought-after LLMs, key criteria for comparison, benchmarks, and additional helpful software. Let's get started.
How To Choose?
Just imagine that here I am listing all the major LLMs announcements over the past six months to highlight the speed of progress and how quickly some data becomes outdated (if this is causing you difficulties, follow our Friday weekly roundup!). The problem here is that not only are the models outdated, but also the platforms for evaluating performance are outdated.
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Therefore, the first thing I recommend to you is to start not from specific models but from the cases of other developers, your experience, and basic criteria. Here are some of them (you can also add your own specific ones):
Ease of use: The LLM should be easy to use for different team members with different levels of technical expertise. It should have an intuitive interface with resources that can shorten the learning curve.
Scalability: The model should be able to handle huge amounts of training data without degrading performance.
Integration Compatibility: The base models should be compatible with your existing technology stack. Full compatibility ensures optimized processes and data flow without radical changes.
Computational Resources: Determining the hardware and infrastructure requirements for deploying and maintaining the LLM is important. Assess the quantity and quality of data needed to train and customize the model effectively.
Language Support: The LLM should have multilingual and multidialect capabilities to scale business operations across geographic locations.
Cost-effectiveness: Your budget should cover the total cost of ownership, including upfront costs, maintenance, and upgrades.
Customizability: you should be able to tailor models to meet the specific needs of your business or product.
Data Privacy: The model should have advanced data security and privacy features to protect your personal and sensitive business information. By implementing security measures and moderation mechanisms, you should also prevent the spread of misinformation and malicious content.
Of course, this is not everything. However, you will have to define further criteria independently, depending on your requirements and preferences. For example, some models are already customized for specific use cases, saving you time and computing resources. At the same time, others may offer more flexible customization with more features (but will take longer to work on).
So, let's go through the basic LLMs, one of which is sure to be a good fit for building your project.
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LLMs & Capabilities
GPT-4
Developer: OpenAI
Parameters: up to 1.76T (200B parameters for GPT-4o)
Context Window: 128K (GPT-4o)
Price: Input: $5.00, Output: $15.00 per 1M Tokens.
Access: API
Yes, any list of LLMs must start with OpenAI models. Generative Pre-trained Transformer (GPT) is the main source of hype in the industry and the most popular solution among developers. Now, the company offers many versions: GPT-3.5-turbo, GPT-4, GPT-4o, and GPT-4 Turbo.
All of the above are general-purpose AI models with API access.
These models can understand and generate natural language and excel in various language tasks, including text, translation, question answering, and more. The GPT family of models is trained based on licensed data, codes, instructions, and human feedback.
Special attention should be paid to GPT-4o and GPT-4o mini. The latter are the most up-to-date OpenAI models with 200B and 8B parameters. Basic GPT-4o is now number two in the independent LMSYS ranking. GPT-4o provides GPT-4-level (or better) performance at much faster speeds and lower costs. It currently has a context window of 128k.
If you're a startup or small business looking for an affordable AI solution, GPT-4o Mini could be a great choice. It offers significant capabilities without the high costs associated with larger models. And it’s also good for simpler tasks that don’t require the full power of GPT-4o, such as basic content generation, simple coding assistance, and straightforward data analysis.
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