LLMs Outperform Embedding Models at Much Higher Cost

Niklas Muennighoff posted results from a new paper finding that LLMs now beat embedding models on tasks such as MTEB. The controlled study compared ten LLMs across six families to 26 embedding models. Andy Konwinski replied that LLMs can perform semantic embedding but cost 1000x more and run slower. He asked how long it will take before LLMs become cheaper and faster at the task. The paper is titled The Embedder's Dilemma and examines when to select each option.