OpenAI Price Revolution: OpenAI is going to make some big changes for developers next month. The goal is to make it easier and faster to make software apps based on its artificial intelligence models. This information came to Reuters from people who know directly about OpenAI’s plans.
As part of the upcoming changes, memory storage will be added to the set of developer tools designed especially for using AI models. By up to a factor of 20, this feature could make it much cheaper for application developers to make apps. This strategy addresses a common concern among partners who need help with the rising costs of using OpenAI’s powerful models, especially as they try to build long-lasting businesses based on making and selling AI software.
OpenAI is also ready to release cutting-edge tools with better vision skills in addition to making the infrastructure stronger. With these tools, programmers can make tools that can look at photos in great detail and give detailed answers. There are possible uses in many fields, from entertainment to the highly complex field of health.
These groundbreaking features show OpenAI’s lofty goal, which CEO Sam Altman has strongly backed, to go beyond being a company focused on consumers and become a powerful platform for developers. Elon Musk and Altman co-founded the company in 2015; it had been relatively unknown as a non-profit until now. The company is about to become a major player in the IT industry. It’s interesting to know that Elon Musk owns no company stock right now.
These improvements will be shown off on November 6 at OpenAI’s first developer conference in San Francisco. They are meant to get companies to use OpenAI’s technology to create AI-powered chatbots and self-driving agents to complete jobs independently.
When ChatGPT came out in November of last year, it got a lot of attention and cemented the company’s place as one of the consumer apps with the fastest rate of growth by attracting millions of users with responses that sounded like they came from a person.
Officials’ big predictions for OpenAI’s revenue growth, which were first reported by Reuters in December of the previous year, say that the company will hit a staggering $1 billion by 2024.
Also Read: OpenAI Silicon Symphony: Crafting Next-Gen Chips for ChatGPT Brilliance
OpenAI has had a hard time getting outside groups to use its tools to make businesses that make money. Altman’s main long-term goal is to make OpenAI an important tool for other companies. His goal of building a new environment around OpenAI models, which can already be found in many apps like DoorDash and the writing assistant Jasper, has been made clear by working closely with developers.
App developers will be able to make apps for less money when the “stateful API” (Application Program Interface) comes out soon. By saving the conversation log of queries, this API can help developers save a lot of money. OpenAI’s price information says that processing a one-page document with GPT-4 might cost 10 cents right now, but this depends on factors like length and complexity.
The vision API is a major improvement that makes it easier to make software that can examine photos. This is in addition to the fact that ChatGPT users could already do this. This is important because it’s OpenAI’s first step into the field of multi-modal capabilities, which lets you process and create different types of media besides text, like music, video, and images.
It’s clear what these updates are meant to do: get more programmers to use OpenAI’s approach and start making AI software, like writing bots or customer service bots.
Investors are paying close attention to the technology that these companies use. A lot of them depend on OpenAI or other foundation model companies and have gotten over $20 billion this year. However, there are concerns that competitors or bigger companies may be able to copy the product through changes made to it.
To deal with this, startups are expanding their model portfolio by looking at options such as Meta’s Llama, as well as OpenAI competitors and open-source alternatives. This means that OpenAI has to stand out in a market where big names like Google are already strong.
OpenAI is starting to pay more attention to keeping workers happy. While ChatGPT has been a huge hit with consumers, OpenAI has had some trouble getting companies to use it. Developers can make apps for ChatGPT with the help of plugins that were released earlier this year. The plugins were meant to be OpenAI’s answer to Apple’s iOS App Store. But after an initial rise, there was a sharp drop in the initial buzz among writers, especially for “popular” plugins.
ChatGPT has an amazing 180 million monthly active users, but as of late August, the Scholar AI plugin only had about 7,000 users per day, even though it was very popular at first. Altman said in public earlier this year that plugins haven’t really taken off in the market, recognizing that things need to get better.
Our Reader’s Queries
How much is the price reduction of ChatGPT?
The widely used chat model, gpt-3.5-turbo, that drives ChatGPT has undergone a 25% cost reduction. This implies that developers can now leverage the model for a mere $0.0015 per 1k input tokens and $0.002 per 1k output tokens. Check out our guide on how to use ChatGPT without any charges.
How much is ChatGPT-4 per month?
While ChatGPT-3.5 is impressive, ChatGPT-4 takes things to the next level. For just $20 a month with ChatGPT Plus, you can access OpenAI’s most powerful large language model yet. GPT-4 is incredibly accurate and intelligent, making it a great investment for anyone looking to improve their language processing capabilities. With a subscription to ChatGPT Plus, you can start using GPT-4 today and experience the benefits for yourself.
Why is GPT-3 so expensive?
Training GPT-3 is a costly affair, with a whopping 4.6 million dollars required for a Tesla V100 cloud instance and up to 9 days of training time. The model’s massive dimensions only add to the expense. The amount of resources invested in this training is a major concern at present.
Is OpenAI no longer free?
Unfortunately, there is no such thing as a “free account” for API. The service comes with a cost that is based on the amount of data used. However, there is a chance to try the service for free with a trial credit, which is valid for three months from the date of creating your OpenAI account. After the trial period, you will need to purchase a credit balance to continue making calls.