LangSmith is an observability tool for AI model performance, but its on-premise version has become costly, prompting users to seek alternatives. Several alternatives offer varying features and pricing models in 2024, including Helicone, Phoenix by Arize AI, Langfuse, HoneyHive, and OpenLLMetry by Traceloop. Helicone is highlighted for its open-source nature, self-hosting options, and cost-effectiveness through volumetric pricing, making it suitable for developers and analysts. Phoenix by Arize AI focuses on machine learning model monitoring and explainability, catering to ML engineers and ops teams. Langfuse and HoneyHive offer open-source and customizable features for developers and analysts, with Langfuse providing comprehensive tracing capabilities. OpenLLMetry by Traceloop, built on OpenTelemetry, simplifies monitoring and debugging with a focus on standardizing metric collection. Each alternative provides unique features, and the choice depends on users' specific requirements, budget, and technical needs.