Microsoft has unveiled its latest light AI model called the Phi-3 Mini designed to run on smartphones and other local devices, it revealed in a new research paper. Trained on 3.8 billion parameters, it's the first of three small Phi-3 language models the company will release in the near future.

Microsoft on Tuesday launched a lightweight artificial intelligence model, as it looks to attract a wider client base with cost-effective options.

Microsoft on Tuesday launched Phi-3 Mini, the first of three small models the company says it'll launch in the coming months. Microsoft trained Phi-3 Mini on 3.8 billion parameters, or variables that AI models use to deliver better results.