Microsoft (NASDAQ:MSFT) made a significant announcement in the world of artificial intelligence on Tuesday.
The tech giant unveiled Phi-3-mini, a new AI model designed to be affordable and efficient, specifically catering to businesses with limited resources.
Phi-3-mini packs a punch despite its size. Microsoft claims it outperforms even models twice its size on benchmarks evaluating language, coding, and math capabilities.
This translates to real-world applications, such as summarizing lengthy documents, extracting key insights from market research reports, and even creating social media content.
The new AI model will be available immediately through Microsoft's Azure AI model catalog, as well as on popular platforms like Hugging Face and Ollama.
This announcement comes on the heels of Microsoft's recent investments in the AI space. Last week, the company invested a substantial $1.5 billion in UAE-based AI firm G42.
Additionally, Microsoft has partnered with French startup Mistral AI to offer their models through the Azure platform.
These moves highlight Microsoft's commitment to making AI technology more accessible and fostering innovation in the field.