Big Update from OpenAI: Upgraded AI Models and Slashed Prices!

Big Update from OpenAI: Upgraded AI Models and Slashed Prices!


219 publications
29 Jan 2024
Table of contents

Big Update from OpenAI: Upgraded AI Models and Slashed Prices!

29 Jan 2024

Hello everyone. It's me again, your go-to AI expert. It's not very often that I get to announce good news on two fronts simultaneously, but OpenAI has just made my day. Yes, you read it right! The pioneering AI lab based in San Francisco has just launched some enhanced models that promise to offer unprecedented accuracy. And to sweeten the deal, they've done something that, frankly, left me stunned. Can you believe OpenAI has smashed their prices for the GPT-3.5 Turbo? Let's take a closer look.

OpenAI’s New Text-Embedding Models

The new unveilings, in technical terms, are labelled as 'text-embedding-3-small' and 'text-embedding-3-large'. Now, don't be put off by those tags, let me break these down for you. When compared to the previous model, these little marvels offer superior performance - on the scientific MIRACL benchmark, 'text-embedding-3-large' scored an astounding 54.9 percent. To give you perspective, the older model only managed 31.4 percent. Similarly, on the MTEB benchmark, it scored 64.6 percent, up from the previous 61 percent.

OpenAI’s Mission of Affordability

I got so carried away with the performance increase that I almost forgot about the price cut. Can you imagine, OpenAI has reduced the price per 1,000 tokens by a whopping 5x for the 'text-embedding-3-small' compared to the older generation model. To add to the affordability, developers can also reduce the embedding sizes to cut down costs further without hampering accuracy significantly. How often do you see improved technology becoming cheaper? I'm stoked!

Double Whammy: GPT-3.5 Turbo Price Cut

That's not all, folks! Among other exciting news, the upcoming release of an updated GPT-3.5 Turbo model comes with a pleasant surprise. OpenAI is slashing its prices by 50 percent for input tokens and 25 percent for output tokens. Can you believe this is the third price reduction for GPT-3.5 Turbo in just a year? It's clear that OpenAI is making strong efforts to encourage more developers to harness the power of AI. Keep your eyes peeled for pricing details and a glimpse of the upgraded model.

OpenAI’s Fortified Safety Measures

In addition to performance and affordability, OpenAI has taken their commitment to safety seriously. Enter 'text-moderation-007', their latest content moderation model. As part of my exploration, I found that this new upgrade is capable of identifying potentially harmful text more accurately compared to previous incarnations.

OpenAI: More Control and Visibility to Developers

Last, but far from least, let's talk about developers' control over API keys and visibility into usage metrics. OpenAI has implemented improvements that offer full control over permissions, visibility on individual consumption levels, and better tracking of individual projects - making everyone's life that much easier. Before I wrap up, let me assure you that OpenAI has an array of platform improvements planned for the future, especially designed for larger development teams. So, watch this space for more exciting updates and remember, OpenAI is gearing up to make big things happen!

Performance & Affordability: A Closer Look at OpenAI's New Text-Embedding Models

OpenAI, the San Francisco-based Artificial Intelligence lab, has recently rolled out a suite of game-changing updates for its AI offerings, including the much-discussed text-embedding-3-small and text-embedding-3-large models. These next-gen tools are renowned for their superior performance, drastically outclassing their predecessors, and are turning heads with their ultra-affordable pricing. But that's just the tip of the iceberg. Let me delve deeper into what all this means to you as a developer!

Upgraded Performance Benchmarks

Stepping into the spotlight first, let's talk numbers and see what these miraculous new models have to offer. The text-embedding-3-large, for instance, smashes previous benchmark records, achieving an impressive average score of 54.9% on the MIRACL benchmark and an astounding 64.6% on the MTEB benchmark. To give you some perspective, this is a significant bump from the older text-embedding-ada-002 model, which managed only 31.4% and 61% on the MIRACL and MTEB benchmarks, respectively. But there's more to these models than just marvelous metrics!

Price Per 1,000 Tokens: The Significant Drop

What's interesting is that alongside enhanced performance, these models come with a delightful drop in price! The text-embedding-3-small model has seen its price per 1,000 tokens drop a whopping 5x from $0.0001 to $0.00002 when compared to text-embedding-ada-002. This twofold approach - greater performance coupled with affordable pricing - stands testament to OpenAI's commitment to make artificial intelligence not just highly effective, but also accessible.

Shortening Embeddings for Cost-Cutting

Developers would be thrilled to know that OpenAI has designed its new models in such a way that you can shorten the embeddings without dealing a blow to their accuracy. So, alongside the significantly lower prices, you also get the versatility of tuning the embeddings to your needs. With OpenAI's determination to bridge the gap between high-end performance and affordability, it's clear that the future of AI is here and happening. These enhancements are but a sneak peek into the AI advancements on the horizon, and I'll surely keep my friends (that's you, reader!) in the loop on all exciting updates. Stay tuned! Check out my next segment on the big price reduction rolled out for the GPT-3.5 Turbo and the encouragement it brings for developers to harness the power of AI.

GPT-3.5 Turbo: Twice Lower Pricing for Greater AI Adoption

Recently, the plans from OpenAI have laid out a clear path for the future - a planned reduction in pricing for my favorites, the GPT-3.5 Turbo model.

Third-time is the Charm with yet Another Price Drop

I'm simply pumped to share how OpenAI is genuinely becoming a beacon of affordability in the AI world. This is the third price cut within a year, friends! With just about everyone in my circle whispering about AI, this move by OpenAI brings a new wave of excitement for the average developer. Lower prices mean, more than ever, the diverse field of AI is accessible to a larger chunk of developers, irrespective of the size of their pockets.

What Should You Expect?

I know you're pumped to get into the specifics of the price drops and the upgraded model that's set to roll out. Hang tight! It's worth padding up your knowledge about the GPT-3.5 Turbo prices before they hit the market. But, the excitement doesn't end there. OpenAI is not just about offering inexpensive services. From my experience, they know their game and are good at it. Back at my developer's desk, I can't wait to harness the beast that promises to be the upgraded GPT-3.5 Turbo model.

OpenAI Continues to Push the Envelope

It didn't take long for OpenAI to rise to prominence in the AI world. These strategic price cuts are a clear statement of their mission to bring powerful AI capabilities, like those offered by the GPT-3.5 Turbo, into the hands of developers, like you and me. For those of you still pondering if you should step into the world of AI, this is your chance. Take the leap! Let's together explore the wider horizons that OpenAI offers, at prices that don't burn a hole in your pocket. Stay tuned as I delve deeper into this and get ready to bring you more exciting updates, not only on the pricing details but also on the model's upgrade that's set to roll out soon. As a seasoned developer, and your friend in the digital realm, I couldn't be more thrilled to see OpenAI showing true leadership in democratizing access to AI. Let's be ready to welcome the new era of AI, my friends—an era where we're empowered with even greater AI capabilities at lesser prices.

OpenAI’s GPT-4 Turbo Preview: A Sneak Peek and Improved Content Moderation

Hey there, fellow AI enthusiasts! I'm thrilled to bring you some really exciting updates from OpenAI - with something special in the pipeline for the developers among us. OpenAI has been hard at work, creating a better, safer, and more affordable artificial intelligence environment, and these recent upgrades firmly demonstrate that commitment.

Today, we're opening the lid on an enchanting sneak peek into OpenAI's GPT-4 Turbo preview, exploring the progress being made in an important area – content moderation. Get comfy – let's get into it.

Prepping for a Revolution: GPT-4 Turbo Preview

OpenAI has been making substantial headway with its GPT-4 Turbo, currently in its preview stage. With the update to version gpt-4-0125-preview, it's clear that the company is not resting on its laurels, but consistently seeks to improve and refine its service.

According to OpenAI, more than 70% of requests have transitioned to this model since its inception. What's fundamentally impressive about this model is its enhanced proficiency in code generation and other tasks. While developers and AI adopters have already been reaping the benefits of GPT-4 Turbo, this robust update firmly establishes that the best is yet to come!

Advancing the Safety Nets: Content Moderation Upgrades

OpenAI is not just about harnessing the power of AI technologies; it's equally about doing so responsibly! To illustrate this commitment, they've rolled out the most advanced content moderation model they've ever developed - text-moderation-007.

This model is a potent tool in identifying and intercepting potentially harmful text. It presents a significantly more accurate approach than previous versions, leading to a safer AI environment for developers and end-users. If you were looking for proof of OpenAI's dedication to developing responsible AI technology, this is it!

This discussion around GPT-4 Turbo preview and OpenAI's commitment to safety wouldn't be complete without addressing one of the most crucial aspects for developers - costs.

Inching Closer to the AI Revolution

That's a wrap on today’s updates. Now, drum roll, please….because OpenAI is unveiling a significant price cut for their GPT-3.5 Turbo! We'll cover all the juicy details on this in my next piece, where we're also going to take a closer look at the newly launched text-embedding models. These models not only perform better, but they're also more affordable - showing that OpenAI is making giant strides towards making AI more accessible for developers.

Join me next time, as we continue to explore these exciting advancements in OpenAI together, making sense of how they're reshaping the AI landscape, and what these upgrades mean for developers. As always, please feel free to reach out with any questions or insights - I look forward to hearing from you. Stay curious!

OpenAI: Greater Control and Visibility with Enhanced API Keys

As a long-time enthusiast of everything AI, I've been smitten with how OpenAI has consistently been reaching new heights and transforming the artificial intelligence sector. Recently, they've made significant strides with an impressive launch of their upgraded models and augmented services, making it even more compelling for developers. Today, I wanted to switch gears a little and zone in on an update that users like us are sure to applaud – the enhanced security and visibility features the new API keys offer.

Getting the Keys to the Castle: Upgraded API Keys

OpenAI has elegantly equipped developers with greater control over permissions via their API keys. If you are like me and having full control is your thing, then this improvement is a big win. But how exactly does this work, you might ask? Well, imagine these API keys as your personal passes, granting you access to the OpenAI's universe of AI services. Now, you can assign specific permissions to these keys, effectively deciding who gets access to which part of your AI world. This update is an excellent move towards enhancing security – an aspect that we cannot afford to overlook in today's interconnected digital world.

Transparent Tracking of Your AI Journey

Along with personalized key control, OpenAI has thoughtfully provided users visibility into their API key usage metrics. Essentially, this allows us to keep track of our individual AI projects or products at the granular level. With data at our fingertips, we now have an eagle-eyed view of individual consumption like never before. This isn't just a 'nice-to-have' feature; it's a game-changer for anyone eager to keep a tight grip on their AI development processes. Tracking your consumption on a per-key level lets you keep an eye on your API usage, helping you make well-informed decisions that can ultimately lead to cost and time savings. It's a meaningful visibility boost, wouldn't you agree?

Fueling the Excitement: What's Next for OpenAI?

Our AI journey with OpenAI doesn't stop here. Quite the contrary – OpenAI has tantalizingly planned further platform improvements for the near future that will cater to larger development teams. As we have seen with the API keys update, OpenAI is keen on empowering developers – and I’m excited to see what’s on their agenda next! As a personal witness to the compelling momentum of OpenAI, there's certainly a good deal to look forward to. And I must admit, I'm on the edge of my seat waiting for their next big announcement. If you're as excited as I am about the possibilities of AI, I earnestly urge you to buckle up because with OpenAI, it seems we're in for an exciting ride. From new models to more robust content moderation capabilities, it's clear OpenAI is committed to providing us with cutting-edge resources to further our AI development ventures. Given all these developments, there’s never been a more exciting time to partake in the OpenAI experience.

Article by


Say Hello to The Metaverse's Friendly AI Bot
24 May, 2024

Say Hello to The Metaverse's Friendly AI Bot

Kuki, previously known as Mitsuku, is an award-winning AI chatbot developed by Steve Worswick using Pandorabots' AIML technology. It engages users across various platforms, offering companionship and entertainment through conversation, games, and magic tricks. Kuki's intelligence allows her to reason and interact with users on a sophisticated level, while its embodiment in the metaverse expands its reach. Kuki has also made strides in virtual modeling and advertising, with notable appearances in Vogue Business and an H&M campaign.

Read more
Meet Your New Digital Partner -
23 May, 2024

Meet Your New Digital Partner - offers a user-friendly no-code automation tool enabling users to create bots for repetitive tasks without coding knowledge, prioritizing both efficiency and security. It supports web-based application automation, integrates with Google Sheets, and can perform functions such as data scraping and transferring data across apps. Ideal for startups, allows for LinkedIn and Instagram outreach. It provides free and paid plans with varying runtimes and additional features like scheduling and cloud servers.

Read more
Introduction: Stepping Into the Future with Lightkey
22 May, 2024

Introduction: Stepping Into the Future with Lightkey

Lightkey is an AI-powered text prediction software for Windows that enhances typing efficiency by offering accurate text predictions and spelling corrections. The user-friendly tool integrates easily into desktop applications, continuously learns from the user's writing style, and significantly improves typing speed, making it a valuable asset for any Windows user.

Read more
Getting Familiar with AI-Powered Tools: Unlocking the Power of AI
21 May, 2024

Getting Familiar with AI-Powered Tools: Unlocking the Power of AI

Steno AI is a platform that uses AI to provide insights from podcasts, offering features like real-time transcription, advanced search, and interactive chatbots. Catering to content creators, marketers, researchers, and podcast enthusiasts, Steno AI facilitates content engagement, monetization, and research through tools like podcast summaries and a vast content database. Details on pricing and customer support are available on their website.

Read more
Addressing the Need for Efficient Client Management with Kaizan
20 May, 2024

Addressing the Need for Efficient Client Management with Kaizan

Kaizan introduces a novel Client Intelligence Platform aimed at empowering client success teams with AI-driven insights and task automation. The platform identifies risks and opportunities across a client portfolio, guiding teams on actions to enhance client satisfaction and revenue growth. Despite the critical role of client management post-sale, it's been largely undervalued in resource allocation. Kaizan addresses this gap by offering proactive systems that assist real-time decision-making and workstream management, leveraging advances in ML, NLP, and language interfaces. They aim to redefine and optimize how client relationships are managed in a digital-first economy.

Read more

1 / 219

Discover more