OpenAI Unveils New API Updates: Lower Prices and Introduces GPT-3.5-Turbo, GPT-4 and More.

OpenAI has announced a range of API updates, including the launch of steerable GPT-3.5-Turbo and GPT-4. The company has also lowered its prices and added support for function calling in the Chat Completions API. The models have been fine-tuned to detect and call a function, responding with the JSON adhering to the function. The new Chat Completions API feature offers improved flexibility and interactive conversations. OpenAI has also made its state-of-the-art embedding model 75% cheaper, making it more accessible than ever. Additionally, it has reduced the cost of input tokens for GPT-3.5-Turbo by 25%, allowing users to achieve more within their budget. The company has also introduced a 16k context version of GPT-3.5-Turbo for increased context length compared to the standard 4k version. OpenAI assures customers that all updates prioritise privacy and security, with customers retaining ownership of generated outputs, and their API data not being utilised for training purposes. Last month, OpenAI secretly launched the GPT-4-32k API, according to several developers on the waitlist.