ChatGPT maker OpenAI announced on Thursday the launching of a new cost-efficient small AI model called GPT-4o mini. Its purpose is to make the technology more affordable and less energy-intensive, enabling the startup to reach a wider range of customers.
Microsoft-backed OpenAI, the leading company in the AI software industry, has been working on reducing costs and increasing the speed for developers building applications with its model, while competitors like Meta and Google race to expand their market share.
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Today’s global outage of Microsoft’s system is causing disruptions in banks, hospitals, airports, and schools.
The problem is enormous, and thousands of computers worldwide will need to be repaired manually. The issues were caused by a faulty update of the CrowdStrike Falcon Agent tool on the Windows operating system.
According to OpenAI, the GPT-4o mini is priced at 15 cents per million input tokens and 60 cents per million output tokens, making it over 60% cheaper than GPT-3.5 Turbo.
OpenAI also mentions it currently surpasses the GPT-4 model in chat preferences and achieved a score of 82% on the Massive Multitask Language Understanding (MMLU) test.
MMLU benchmark assesses the textual intelligence and reasoning abilities of language models. A higher MMLU score indicates a superior language comprehension and application across various domains, improving real-world utility.
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Smaller language models need less computational power, making them a more cost-effective option for companies with limited resources aiming to implement generative AI in their operations.
Currently, the mini model supports text and vision in the application programming interface, The company also stated that support for text, image, video, and audio inputs and outputs will be added in the future.
ChatGPT’s Free, Plus and Team users will be able to access GPT-4o mini — which has knowledge up to October 2023. Enterprise users will gain access starting next week.
