ChatGPT and Whisper, both of which perform the speech-to-text conversion, are now available as APIs from OpenAI, which the company claims are ten times more cost-effective than their previous models.

“ChatGPT and Whisper models are now available on our API, giving developers access to cutting-edge language (not just chat!) and speech-to-text capabilities,” the company said in a blog post. ChatGPT costs have been cut by 90% thanks to our system-wide optimizations implemented in December, and we’re making those savings available to API users at this time. Our open-source Whisper large-v2 model is now available in the API, allowing developers to get faster, more cost-effective results.

This is why it is important to us. It’s time for everyone to have access to chatbots. That has to be good for business. If OpenAI was able to cut the price of their product by 90% in under three months, that would be a feat just as groundbreaking as the development of their AI. It’s also possible that they’ve introduced price reductions and a loss-leader in an effort to ward off potential rivals. Whether that’s the case or not, monitoring usage is essential. Even at these low rates, a sizable user base can quickly drive up expenses.

The cost: A model’s consumption of the ChatGPT API is priced at $0.002 per 1,000 tokens. A token is a sequence of messages containing metadata. At $0.006/min, the Whisper large-V2 model is the most expensive option. When compared to the few cents per chat that OpenAI CEO Sam Altman once estimated computing costs at, this is a significant reduction.

Already in use: The My AI feature exclusive to SnapChat+ subscribers is powered by the ChatGPT API. Assist in learning Q-Chat, a virtual tutoring service uses it. Ask Instacart, which will soon be released, will enable customers to ask questions about recipes and food purchases and receive “shoppable” answers based on product data from Instacart’s retail partners.

Also announced: OpenAI also elaborated on some of their service’s previous rules. To begin, businesses’ API-submitted data will no longer be used for model training or other service improvements unless those businesses specifically agree to this. In addition, it is now mandated that any app or service that employs ChatGPT make it obvious to users that they are communicating with a chatbot. This includes labelling as “bot” any and all news, blog posts, and other materials produced by ChatGPT.

Related Articles:

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Google, Microsoft and 15 other technology companies headed by Indian-origin executives

OpenAI Presents the Whisper API, a New Tool for Speech-To-Text Translation and Transcription.


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