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Latent Space: The AI Engineer Podcast cover image

The Ultimate Guide to Prompting

Latent Space: The AI Engineer Podcast

NOTE

Leverage Cost-Effective Models for Efficiency

Utilizing cheaper AI models strategically can lead to significant cost savings when processing large volumes of tokens. By running a lower-cost model multiple times to generate drafts or summaries, and then using a more advanced model to evaluate these outputs, one can enhance efficiency and reduce expenses. This method allows for a substantial net savings in scenarios involving high token counts. Additionally, advancements in automatic prompt engineering (APE) and tools like DSPy are revolutionizing the process, enabling automation in tasks that previously required extensive human effort. Despite their efficacy, challenges remain, such as the necessity for accurate ground truth labels.

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