The business claims that OpenAI’s new APIs for ChatGPT and Whisper—which converts speech to text—are 10 times more affordable than its current models.
The firm said in a blog post that “ChatGPT and Whisper models are now available on our API, offering developers access to cutting-edge language (not just chat!) and speech-to-text capabilities.
“Since December, we’ve reduced the cost of ChatGPT by 90% through a number of system-wide optimizations, and we’re now sharing those savings with API users. Our open-source Whisper large-v2 model is now available to developers through the API, producing results that are both quicker and more affordable.
Why It Matters To Us?
Chatbots for everyone! I assume that’s excellent news for marketers. If OpenAI succeeded in bringing down the price of their product by 90% in less than three months, they accomplished a feat as bit as groundbreaking as the development of their AI.
The tweet below confirms the news:
OpenAI unveils ChatGPT API at very low prices https://t.co/nYBBII9m3l pic.twitter.com/aDDch9UQP3
— MarTech (@martechismktg) March 2, 2023
It’s also feasible that they’ve reduced their pricing and are providing a loss leader in order to fend off future rivals. Regardless of whether that is the case, it is crucial to monitor usage. Even at these levels, a large number of customers can easily add up to a sizable expense.
The Price
Per 1,000 tokens, which are the collections of messages with metadata that the model consumes, costs $0.002 over the ChatGPT API. The cost per minute for the Whisper large-V2 model is $0.006. Given that OpenAI CEO Sam Altman had projected computing costs at a few cents for each interaction, this represents a significant drop.
Presently In Use
The My AI function that is provided to SnapChat+ subscribers who pay a fee is powered by Snapchat via the ChatGPT API.
study assistance It is utilized by virtual tutor Q-Chat by Quizlet. Instacart will soon launch Ask Instacart, which will provide “shoppable” replies to consumer questions about recipes and food purchases based on information from the company’s retail partners.
Also Announced
Also, OpenAI clarified several of its former service policies. Secondly, unless with organizations’ consent, enterprise data given via the API will no longer be used for model training or other service upgrades.
Also, customers must now be informed that they are dealing with a chatbot when utilizing apps or services that use ChatGPT. This includes stating that all ChatGPT-produced content, such as news articles, blog posts, etc., was generated by a bot.
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