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What is the difference between KFP SDK v2, the v2 namespace in KFP SDK v1, and v2 compatible mode?

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The KFP SDK has two major versions: v1.8.x and v2.x.x (in pre-release at the time of writing this).

KFP SDK v2.x.x compiles pipelines and components to IR YAML [example], a platform neutral pipeline representation format. It can be run on the KFP open source backend or on other platforms, such as Google Cloud Vertex AI Pipelines.

KFP SDK v1.8.x, by default, compiles pipelines and components to Argo Workflow YAML. Argo Workflow YAML is executed on Kubernetes and is not platform neutral.

KFP SDK v1.8.x provides two ways to author pipelines using v2 Python syntax:

KFP SDK v2-compatible mode is a feature in KFP SDK v1.8.x which permits using v2 Python authoring syntax within KFP SDK v1 but compiles to Argo Workflow YAML. v2-compatible mode is deprecated and should not be used.

The KFP SDK v2 namespace in KFP SDK v1.8.x (from kfp.v2 import dsl, compiler) permits using v2 Python authoring syntax within KFP SDK v1 and compiles to IR YAML [usage example]. While this mode is not deprecated, users should prefer authoring IR YAML via the pre-released KFP SDK v2.x.x.