OpenAI Unveils Next-Gen AI Models: GPT-4 Turbo, GPT-3.5 Turbo, and Advanced Embeddings [Aiomatic]

New Embeddings models: OpenAI introduced two new embedding models: a smaller and highly efficient text-embedding-3-small model, and a larger and more powerful text-embedding-3-large model.

text-embedding-3-small is OpenAI’s new highly efficient embedding model and provides a significant upgrade over its predecessor, the text-embedding-ada-002 model released in December 2022.

Reduced price. text-embedding-3-small is also substantially more efficient than our previous generation text-embedding-ada-002 model. Pricing for text-embedding-3-small has therefore been reduced by 5X compared to text-embedding-ada-002, from a price per 1k tokens of $0.0001 to $0.00002.

While, text-embedding-3-large is the new next generation larger embedding model and creates embeddings with up to 3072 dimensions. It comes with slightly higher price, of $0.00013, but it will be able to handle larger texts with ease.

Also, next week they are introducing a new GPT-3.5 Turbo model, gpt-3.5-turbo-0125 – which will be the most capable GPT-3.5 Turbo model yet, coming also with a lower pricing. Input prices for the new model are reduced by 50% to $0.0005 /1K tokens and output prices are reduced by 25% to $0.0015 /1K tokens.

Also, there is something new for GPT-4-Turbo enthusiasts, as today, OpenAI released an updated GPT-4 Turbo preview model, gpt-4-0125-preview. This model completes tasks like code generation more thoroughly than the previous preview model and is intended to reduce cases of “laziness” where the model doesn’t complete a task. The new model also includes the fix for the bug impacting non-English UTF-8 generations.

For those who want to be automatically upgraded to new GPT-4 Turbo preview versions, OpenAI are also introducing a new gpt-4-turbo-preview model name alias, which will always point to our latest GPT-4 Turbo preview model.

So, truly, these models are set to redefine the boundaries of what’s possible with AI.

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