OpenAI Updates: Better Functionality, Enhanced Models, and Lower Prices

• Artificial Intelligence, News
• Posted: 1 year ago

As a custom AI chatbot development company, we at Verge AI love staying up-to-date with the latest improvements in the artificial intelligence landscape. OpenAI, a leader in the AI space, has recently announced some fantastic updates that will bring new capabilities, better performance, and more affordability to the table.

We’re excited to share these OpenAI updates with you, so let’s dive into what’s new – including the fascinating function calling capability, the fresh models now available, and some great price reductions.

New Function Calling Capability

OpenAI has introduced a game-changing feature called function calling. This new feature is a game changer which will give developers a way to interact with external tools and APIs more reliably. Integrating GPT capabilities with external tools and APIs is now a whole lot easier. Let’s look at some of the benefits this new feature brings:

1. Chatbots that answer questions through external tools: Now, it’s a breeze for developers, like us, to create chatbots that answer questions by calling external tools. Users will love this new level of functionality.

2. Turning natural language into API calls or database queries: Thanks to function calling, developers can now turn human-like requests into machine-readable commands, making interactions with APIs and databases even more efficient.

3. Extracting structured data from text: Say goodbye to tedious data processing – function calling makes it easier than ever to extract relevant information from walls of text. Developers will be able to process and analyze data more efficiently.

Of course, it is important to make sure our projects are safe and protected. To ensure the safe integration of function calling with existing applications, developers should take steps to protect their applications. This includes steps like only using trusted tools, and including user confirmation steps before performing actions with real-world impact.

Upgraded and Improved Models

OpenAI has introduced new versions of its GPT-4 and GPT-3.5 Turbo models:

GPT-4

1. gpt-4-0613: This improved model now comes fully equipped with function calling capabilities, making application development easier and more effective than ever.
2. gpt-4-32k-0613: Bigger and better, this model can grasp larger texts with its extended context length – a true game changer.

We also have some good news for those on the waitlist: OpenAI plans to remove the waitlist entirely with this model, allowing many more developers to start using GPT-4 soon!

GPT-3.5 Turbo

1. gpt-3.5-turbo-0613: Not only does it boast function calling integration, this model offers enhanced steerability, allowing developers to better guide the AI’s responses.
2. gpt-3.5-turbo-16k: With four times the context length of the standard gpt-3.5-turbo, this model can now support ~20 pages of text in a single request. This model truly expands the horizons for possible applications.

Model Deprecations

As much as we’re excited for the new models, it’s time to say goodbye to the old versions. OpenAI has put together a well-planned deprecation process to keep everything running smoothly. Applications using older models will be automatically upgraded to their new counterparts on June 27th.

If you want to compare the model performance between different versions, you can check out OpenAI’s Evals library.

For those who need some more time to make the switch, don’t worry – the older models will still be available until September 13th. We encourage you to share your feedback with OpenAI to help make this transition as seamless as possible.

Lower Pricing for Developers

Some great news for your wallets: OpenAI is committed to passing on efficiency savings to its users and is sharing the savings it’s gained from optimizing their systems. Let’s talk numbers:

• The popular text-embedding-ada-002 embeddings model, the cost has been cut by 75%, making it more affordable than ever.
• The cost of gpt-3.5-turbo has been reduced by 25%, making chatbot development even more accessible.

Closing Thoughts

We couldn’t be more thrilled about these fantastic updates from OpenAI. They’ll undoubtedly have a big impact on the AI development community, ushering in an era of better functionality, improved performance, and fantastic price breaks. These advancements are making sure AI technology continues to evolve and become more accessible to developers everywhere.

Ready to build custom AI chatbots using these exciting new updates? Visit Verge AI’s website to discover how our solutions can help you achieve success in your projects. Don’t hesitate to contact Verge AI for a personalized consultation. Let’s explore all the perks these state-of-the-art AI solutions can bring to your business!