FastFit: Fast and Effective Few-Shot Text Classification with a Multitude of Classes

AbstractWe present FastFit, a Python package designed to provide fast and accurate few-shot classification, especially for scenarios with many semantically similar classes. FastFit utilizes a novel approach integrating batch contrastive learning and token-level similarity score. Compared to existing few-shot learning packages, such as SetFit, Transformers, or few-shot prompting of large language models via API calls, FastFit significantly improves multi-class classification performance in speed and accuracy across various English and Multilingual datasets. FastFit demonstrates a 3-20x improvement in training speed, completing training in just a few seconds. The FastFit package is now available on GitHub, presenting a user-friendly solution for NLP practitioners.