OpenAI has introduced its new GPT-4o Mini model, which is smarter and more “cost-efficient.”
The AI giant released its earlier model, GPT-3.5 Turbo, which is not quite as capable.
The budget-friendly chatbot will cost $0.15 per million input tokens and $0.60 per million output tokens — which is 50 percent less than the GPT-3.5 Turbo — and is available for free users and paying subscribers.
“OpenAI is committed to making intelligence as broadly accessible as possible,” the company said in a blog post “Today, we’re announcing GPT-4o mini, our most cost-efficient small model. We expect the GPT-4o mini will significantly expand the range of applications built with AI by making intelligence much more affordable. GPT-4o mini scores 82 percent on MMLU and currently outperforms GPT-41 on chat preferences in LMSYS leaderboard [opens in a new window]. It is priced at 15 cents per million input tokens and 60 cents per million output tokens, an order of magnitude more affordable than previous frontier models and more than 60 percent cheaper than GPT-3.5 Turbo.”
“GPT-4o mini enables a broad range of tasks with its low cost and latency, such as applications that chain or parallelize multiple model calls (e.g., calling multiple APIs), pass a large volume of context to the model (e.g., full code base or conversation history), or interact with customers through fast, real-time text responses (e.g., customer support chatbots),” the post continued.
“Today, GPT-4o mini supports text and vision in the API, with support for text, image, video and audio inputs and outputs coming in the future,” the post stated. “The model has a context window of 128K tokens, supports up to 16K output tokens per request and has knowledge up to Oct. 2023. Thanks to the improved tokenizer shared with GPT-4o, handling non-English text is now even more cost-effective.”
