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

Want to learn more about AI and big data from industry leaders? Check out AI & Big Data Expo taking place in Amsterdam, California, and London. The comprehensive event is co-located with Digital Transformation Week and Cyber Security & Cloud Expo.

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Following yesterday’s leak of a custom GPT-4 chatbot creator, OpenAI unveiled several other key features during its DevDay that promise a transformative impact on the landscape of AI applications:

• GPT-4 Turbo: OpenAI introduced the preview of GPT-4 Turbo, the next generation of its renowned language model. This new iteration boasts enhanced capabilities and an extensive knowledge base encompassing world events up until April 2023.
  • One of GPT-4 Turbo’s standout features is the impressive 128K context window, allowing it to process the equivalent of more than 300 pages of text in a single prompt.
  • Notably, OpenAI has optimised the pricing structure, making GPT-4 Turbo 3x cheaper for input tokens and 2x cheaper for output tokens compared to its predecessor.
• Assistants API: OpenAI also unveiled the Assistants API, a tool designed to simplify the process of building agent-like experiences within applications.
  • The API equips developers with the ability to create purpose-built AIs with specific instructions, leveraging additional knowledge and calling models and tools to perform tasks.
• Multimodal capabilities: OpenAI’s platform now supports a range of multimodal capabilities, including vision, image creation (DALL·E 3), and text-to-speech (TTS).
  • GPT-4 Turbo can process images, opening up possibilities such as generating captions, detailed image analysis, and reading documents with figures.
  • Additionally, DALL·E 3 integration allows developers to create images and designs programmatically, while the text-to-speech API enables the generation of human-quality speech from text.
• Pricing overhaul: OpenAI has significantly reduced prices across its platform, making it more accessible to developers.
  • GPT-4 Turbo input tokens are now 3x cheaper than its predecessor at $0.01, and output tokens are 2x cheaper at $0.03. Similar reductions apply to GPT-3.5 Turbo, catering to various user requirements and ensuring affordability.
• Copyright Shield: To bolster customer protection, OpenAI has introduced Copyright Shield.
  • This initiative sees OpenAI stepping in to defend customers and cover the associated legal costs if they face copyright infringement claims related to the generally available features of ChatGPT Enterprise and the developer platform.

OpenAI’s latest announcements mark a significant stride in the company’s mission to democratise AI technology, empowering developers to create innovative and intelligent applications across various domains.

See also: OpenAI set to unveil custom GPT-4 chatbot creator

Want to learn more about AI and big data from industry leaders? Check out AI & Big Data Expo taking place in Amsterdam, California, and London. The comprehensive event is co-located with Digital Transformation Week.

Explore other upcoming enterprise technology events and webinars powered by TechForge here.

The post OpenAI introduces GPT-4 Turbo, platform enhancements, and reduced pricing appeared first on AI News.