OpenAI announces new models and reduced API pricing

OpenAI’s New Embedding Models and API Updates

OpenAI, based in San Francisco, has unveiled several significant updates on their AI services. They have introduced new embedding models, lowered the price for GPT-3.5 Turbo, released an updated GPT-4 Turbo preview, and enhanced their content moderation capabilities. These updates aim to improve performance, accessibility, and versatility for developers utilizing their AI services.

Improved Text Embedding Models

OpenAI’s new text-embedding-3-small and text-embedding-3-large models offer enhanced performance compared to previous generations. For instance, text-embedding-3-large achieve average scores of 54.9 percent on the MIRACL benchmark and 64.6 percent on the MTEB benchmark, a significant improvement from the older text-embedding-ada-002 model’s scores.

Lower Price and Increased Affordability

The price per 1,000 tokens for text-embedding-3-small has decreased by 5x compared to text-embedding-ada-002, dropping from $0.0001 to $0.00002. OpenAI also allows developers to shorten embeddings to reduce costs without compromising accuracy. Additionally, the forthcoming updated GPT-3.5 model will see a 50% reduction in input token pricing and 25% reduction in output token pricing.

Enhancements in GPT-4 Turbo and Content Moderation

OpenAI’s GPT-4 Turbo preview, version gpt-4-0125-preview, has experienced over 70% adoption rates since its launch, featuring improvements in code generation and other tasks. To support developers building safe AI applications, OpenAI has introduced its most advanced content moderation model yet, text-moderation-007, which can identify potentially harmful text more accurately than its predecessors.

Improved Developer Control and Visibility

OpenAI now provides developers with more control over API keys and better visibility into usage metrics. This includes the ability to assign permissions to keys and tracking consumption on a per-key level to better monitor individual products or projects.

Future Plans and Collaboration

OpenAI has stated that they have planned more platform improvements over the coming months to cater for larger development teams. It is clear that OpenAI’s goal is to continually enhance their AI services to better serve the developer community as a whole.