OpenAI has unveiled its upgraded text-generating AI model, named GPT-4 Turbo. According to the company, this model is simultaneously more powerful and more cost-effective.

GPT-4 Turbo, priced at USD 0.01 per 1,000 input tokens and USD 0.03 per 1,000 output tokens, analyzes text and offers the ability to understand the context of both text and images for one of its versions.

Some of the main features of GPT-4 Turbo include a greater knowledge base for more accurate responses, a 128k context window for advanced comprehension, and a new “JSON mode” for valid JSON responses. It also includes certain parameters for returning more consistent completions and providing log probabilities for probable output tokens.

The new model claims to perform better in tasks that necessitate careful following of instructions, such as generating specific formats. It also supports improved return of correct function parameters.

Analyst QuickTake: With larger context windows, these models would be able to better understand and respond to more complex and nuanced queries, enabling the creation of products with improved natural language understanding and enabling more sophisticated applications in areas like virtual assistants, content generation, and customer support. The reduced pricing also means that more startups and small businesses in particular could benefit from accessible AI technologies.