OpenAI's improved embedding model with 1536 dimensions offering 5x price reduction compared to ada-002, supporting Matryoshka Representation Learning for flexible dimension sizing.
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text-embedding-3-small is OpenAI's improved, more performant version of the ada-002 embedding model, released January 25, 2024. It creates embeddings with 1536 dimensions optimized for latency and storage.
Compared to text-embedding-ada-002:
Unique feature allows shortening embeddings while maintaining performance. Store more important information in earlier dimensions, less important in later dimensions.
$0.00002 per 1,000 tokens (62% less expensive than text-embedding-3-large).