OpenAI introduced the new GPT-4o mini model on Thursday, which is described as an affordable, smaller version of Chat GPT.
According to a statement released by the artificial intelligence leader, the GPT-4o mini model boasts high-level performance capabilities, outscoring the older GPT 3.5-Turbo model in “textual intelligence and multimodal reasoning.”
GPT-4o is reportedly 60% cheaper than GPT-3.5 Turbo, priced at $0.15 per 1M input tokens and $0.60 per 1M output tokens. The new model can interpret text and visual information and has better multilingual comprehension spanning worldwide languages.
The new mini model reportedly has an information cut-off date as recent as October 2023, an improvement from the GPT-3.5 Turbo model that has a cut-off date of September 2021, according to OpenAI.
According to OpenAI, the model performs well with high-volume tasks, including parsing through large documents, transferring code, and functioning as a chatbot. The company states it plans to fine-tune the model in the coming days.
Source: OpenAI releases new GPT-4o mini model, boasting affordability and high performance
