ChatGPT: OpenAI API Updates and Price Reductions for Enhanced Performance

The creators of the popular ChatGPT, OpenAI, have recently released new features for their API alongside substantial price reductions for programmers. This article delves further into the most recent changes, and how they’ve altered the ChatGPT experience for the better.

In order to better recognize function calls and provide JSON answers that adhere to function signatures, OpenAI has released improved GPT models, such as the state-of-the-art GPT-4 and GPT-4-0613. The GPT-4-32k-0613 model extends the limits of the available context, allowing for better understanding of longer texts and therefore expanding ChatGPT’s capabilities. Developers on the waiting list are currently the only ones who can get their hands on these new models.

With the release of GPT-3.5-turbo-0613, OpenAI has updated the GPT-3.5 Turbo series, giving users more control over the robot via system messages. The GPT-3.5-turbo-16k model can now handle up to 20 pages of text in a single request, making it suitable for managing lengthy documents. Token inputs will now cost $0.003 and token outputs will cost $0.004 with the new pricing structure introduced by GPT-3.5-turbo-16k.

On June 27, 2023, OpenAI began updating and eventually retiring earlier versions of these models. Stable model applications will be upgraded without any downtime, including those that use gpt-3.5-turbo, gpt-4, and gpt-4-32k. If developers need more time to adjust, they can continue utilizing the older models by sending API queries with the gpt-3.5-turbo-0301, gpt-4-0314, or gpt-4-32k-0314 parameters. Please be aware that you have till September 13, 2023 to take advantage of this offer.

OpenAI has reduced the cost of several of their most popular models by a substantial amount in an effort to make their technology more accessible. For instance, the price of the text-embedding-ada-002 model has dropped by 75%, to $0.0001 per 1k tokens. The gpt-3.5-turbo model, the heart of ChatGPT, has also seen a price cut of 25%, bringing it down to $0.0015 per 1k input tokens and $0.002 per 1k output tokens.

These changes demonstrate OpenAI’s dedication to strengthening the ChatGPT user experience and addressing security and privacy concerns. OpenAI’s commitment to producing meaningful enhancements is demonstrated by the company’s iterative strategy of upgrading current models. OpenAI is committed to expanding the capabilities of AI even while work on a new model to replace the GPT-4 is still in its early stages.

In conclusion, the recent improvements to the ChatGPT API and the f. As OpenAI continues to develop the ChatGPT platform, you may anticipate even more improvements and ground-breaking innovations.

Some relevant statistics:

• GPT-3.5 Turbo-16k: $0.003 per 1k input tokens, $0.004 per 1k output tokens.
• Price reduction: text-embedding-ada-002 model – 75% decrease to $0.0001 per 1k tokens.
• Price reduction: gpt-3.5-turbo model – 25% decrease to $0.0015 per 1k input tokens, $0.002 per 1k output tokens.

First reported by Tech.co

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