As competition in the field of generative AI grows fiercer, OpenAI has taken several steps to lower the price of its text generation models and introduced a new subscription plan.
OpenAI has introduced a subscription plan called ChatGPT Plus, which launches in February 2021. ChatGPT Plus costs $20 per month for a subscription that gives users broader access and faster response times. The move is designed to enable more users to gain access to ChatGPT at a lower price.
In addition, OpenAI has launched a paid API service called ChatGPT API to enable developers and enterprises to integrate ChatGPT into their applications. Through the API, developers can interact with ChatGPT and customize and use the generated text feature to suit their needs.
The reduction in the price of GPT-3.5-turbo is certainly good news for developers and users alike, after all, the price has been reduced by 25%! The price adjustment will help more people to be able to use the model at a more affordable price and enjoy more generative text features in their applications.
Reducing the price of input tokens and output tokens will help reduce the cost required to use the model. Developers can have more flexibility to use GPT-3.5-turbo for text generation according to their needs and budget. This will provide them with more opportunities to develop innovative applications, deliver more content, or meet specific needs.
By offering a more affordable price, OpenAI may encourage more people to explore and use the technology and create more valuable applications in various fields. This is positive for driving further growth and innovation in the field of generative AI.
Sam Altman, CEO of OpenAI, confirmed that their current focus is on incremental updates to existing models, rather than entirely new large-scale models. This means that they will continue to improve and optimize existing models rather than immediately launching a successor to GPT-4. This incremental update approach will allow OpenAI to better leverage the foundation they have built and improve the performance, functionality, and usability of its models. By continuously optimizing existing models, OpenAI can introduce more robust and innovative versions while maintaining compatibility with their previous versions. openAI recognizes the need to fully consider and address issues before introducing new models. This indicates that they take a careful approach to the model development and release process, ensuring adequate preparation and testing before launching new models.
Text embeddings play an important role in measuring the correlation between text strings and have a wide range of applications in search and recommendation systems.
By using text embedding models, text strings can be transformed into vector representations, making comparisons, rankings and recommendations more efficient and accurate. Search engines can use text embeddings to calculate the relevance between query strings and documents and rank search results based on relevance. Recommender systems can use text embedding to measure the similarity between items and recommend relevant items based on user preferences and behaviours.
By reducing the price of the text-embedding-ada-002 model, OpenAI makes this powerful text-embedding capability available and accessible to more developers and enterprises. This will facilitate broader adoption and innovation, improving the performance and effectiveness of search and recommendation systems.
