ChatGPT Goes Cheaper, Adds New Features

K. C. Sabreena Basheer 15 Jun, 2023 • 3 min read

In the rapidly evolving field of generative AI, OpenAI is making waves once again by upgrading its text-generating models ChatGPT, GPT-3.5, and GPT-4. Simultaneously, they reduce pricing, signaling their commitment to delivering cutting-edge technology at affordable rates. These advancements are set to revolutionize how developers interact with AI models, opening up new possibilities for applications across various industries.

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Function Calling: OpenAI’s Latest Text-Generating Marvel

OpenAI has recently unveiled the latest versions of its renowned text-generating models, ChatGPT, GPT-3.5-turbo, and GPT-4. One remarkable addition is the introduction of function calls, which allows developers to describe programming functions to these models. In turn, the models generate the necessary code to execute those functions. Function calling paves the way for creating highly responsive chatbots, enabling them to utilize external tools, convert natural language into database queries, and extract structured data from text.

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OpenAI offers a function clling feature in the updated versions of its generative AI models ChatGPT, GPT-3.5 & GPT-4.

Enhanced Context Window for Improved Model Performance

Recognizing the importance of context in generating coherent and relevant text, OpenAI is introducing an expanded context window for GPT-3.5-turbo. The context window refers to the amount of text the model considers before generating additional text. Currently, the maximum number of characters in a single response on ChatGPT is 4,000. With four times the context length of the vanilla version (16,000 tokens), the new GPT-3.5-turbo showcases significantly improved performance. This expansion minimizes the risk of the model “forgetting” recent conversations, resulting in more focused and accurate responses.

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OpenAI has increased the content window on ChatGPT, GPT-3.5 & GPT-4.

Pricing Updates: Making AI Accessible to Developers

OpenAI understands the significance of affordability when it comes to AI technology adoption. In a positive move for developers, they have reduced the pricing for GPT-3.5-turbo by 25%. Developers can now benefit from this powerful text-generating model at a cost of $0.0015 per 1,000 input tokens and $0.002 per 1,000 output tokens. This pricing adjustment translates to approximately 700 pages per dollar, making ChatGPT an attractive option for developers seeking cost-effective solutions.

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ChatGPT is now available at a reduced price, making it affordable for all.

Lower Costs for Text Embedding and Ongoing Model Development

OpenAI not only focuses on text generation but also aims to enhance text embedding models that measure the relatedness of text strings. To encourage wider adoption, OpenAI has reduced the price of text-embedding-ada-002 by a significant 75%. Now priced at $0.0001 per 1,000 tokens, this reduction is made possible through increased efficiency in OpenAI’s systems.

Our Say

OpenAI’s latest innovations in generative text features and reduced pricing are poised to redefine the landscape of AI-driven applications. With function calling and an expanded context window, developers can unlock new levels of interactivity and accuracy in their AI models. OpenAI’s commitment to accessibility and ongoing improvement reaffirms its position as a frontrunner in the AI industry. As OpenAI continues to evolve and refine its offerings, the future holds exciting possibilities for AI-powered solutions.

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