Making sense of the naming.
WHAT THE NAMES USUALLY INDICATE
A family name, identifying the developer's line of models A version number Sometimes a size or capability indicator
WHAT LARGER VERSION NUMBERS GENERALLY MEAN
Newer, usually more capable.
Not always. Some updates trade capability for speed or cost.
SIZE INDICATORS
Many families offer several sizes. Larger is generally more capable, slower and more expensive.
For simple tasks, the smaller version is frequently sufficient and considerably faster.
WHAT TO ACTUALLY CARE ABOUT
Whether it does your task well.
Test rather than choosing by version number.
KNOWLEDGE CUTOFFS
Each model was trained to a point in time. Newer versions generally know more recent material.
Check if currency matters.
WHY MODELS CHANGE UNDERNEATH YOU
Services update the model behind a product. Output may change without notice.
If you depend on consistent behaviour, that matters.
WHAT NOT TO DO
Chase the newest release. Stability has value.