OpenAI slashes GPT-3.5 Turbo’s cost as it prepares to ship GPT-4 Turbo with vision
OpenAI makes its GPT-3.5 model cheaper, while simultaneously promising better and accurate responses.
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What you need to know
OpenAI recentlyunveileda new generation of embedding models, an updated GPT-4 Turbo preview model, an updated GPT-3.5 Turbo model, and an updated text moderation model. The company also indicated that it’s reducing the cost of its GPT-3.5 Turbo model.
If you useChatGPT, you’ve probably interacted withthe GPT-3.5 Turbo model. And now, for the third time in one year, OpenAI is adjusting the pricing for this model. The company aims to help customers scale by reducing the input prices by 50%, which translates to $0.0005 /1K tokens. Output prices have also been cut by 25%, translating to $0.0015 /1K tokens.
Alongside the price reduction,OpenAIpromises that the model will provide users with better and more accurate responses. The updated model also ships with a fix for a bug that previously caused a text encoding issue for non-English language function calls. The company indicated that users will automatically be upgraded to the updated GPT-3.5 model two weeks after it ships.
OpenAI is also launching an updated GPT-4 Turbo preview model, which will complementGPT -4’s updated knowledge cutoffand larger 128k context windows, ultimately allowing it to handle complex tasks like code generation better and more accurately.
According to the company, the preview model is specifically designed to reduce instances of “laziness” that prevent the model from completing tasks. Moreover, it also ships with a fix for a bug affecting non-English UTF-8 generations.
OpenAI also introduces two new embedding models that promise stronger and better performance than their predecessors. Finally, GPT-4 Turbo with vision is expected to ship to general availability “in the coming months,” though it’s in preview.
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Kevin Okemwa is a seasoned tech journalist based in Nairobi, Kenya with lots of experience covering the latest trends and developments in the industry at Windows Central. With a passion for innovation and a keen eye for detail, he has written for leading publications such as OnMSFT, MakeUseOf, and Windows Report, providing insightful analysis and breaking news on everything revolving around the Microsoft ecosystem. You’ll also catch him occasionally contributing at iMore about Apple and AI. While AFK and not busy following the ever-emerging trends in tech, you can find him exploring the world or listening to music.
