OpenAI releases new models and lowers API pricing

OpenAI has announced several updates that will benefit developers using its AI services, including new embedding models, a lower price for GPT-3.5 Turbo, an updated GPT-4 Turbo preview, and more robust content moderation capabilities.

The San Francisco-based AI lab said its new text-embedding-3-small and text-embedding-3-large models offer upgraded performance over previous generations. For example, text-embedding-3-large achieves average scores of 54.9 percent on the MIRACL benchmark and 64.6 percent on the MTEB benchmark, up from 31.4 percent and 61 percent respectively for the older text-embedding-ada-002 model. 

Additionally, OpenAI revealed the price per 1,000 tokens has dropped 5x for text-embedding-3-small compared to text-embedding-ada-002, from $0.0001 to $0.00002. The company said developers can also shorten embeddings to reduce costs without significantly impacting accuracy.

Next week, OpenAI plans to release an updated GPT-3.5 Turbo model and cut its pricing by 50 percent for input tokens and 25 percent for output tokens. This will mark the third price reduction for GPT-3.5 Turbo in the past year as OpenAI aims to drive more adoption.

OpenAI has additionally updated its GPT-4 Turbo preview to version gpt-4-0125-preview, noting over 70 percent of requests have transitioned to the model since its debut. Improvements include more thorough completion of code generation and other tasks. 

To support developers building safe AI apps, OpenAI has also rolled out its most advanced content moderation model yet in text-moderation-007. The company said this identifies potentially harmful text more accurately than previous versions.

Finally, developers now have more control over API keys and visibility into usage metrics. OpenAI says developers can assign permissions to keys and view consumption on a per-key level to better track individual products or projects.

OpenAI says that more platform improvements are planned over the coming months to cater for larger development teams.

(Photo by Jonathan Kemper on Unsplash)

See also: OpenAI suspends developer of politician-impersonating chatbot

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