OpenAI, the maker of ChatGPT backed by Microsoft, has unveiled new tools designed to make it easier for developers to build applications using its artificial intelligence (AI) technology.
The AI startup aims to maintain its leadership by offering advanced features that enhance AI capabilities for businesses.
One of the key tools launched is a real-time AI voice application tool that allows developers to complete tasks using a single set of instructions. Previously, developers had to follow a multi-step process —transcribing audio, generating text-based responses, and converting the text back into speech. Now, this streamlined process simplifies development and enhances efficiency.
A significant portion of OpenAI’s revenue comes from businesses that use its platform to create their own AI applications. By rolling out these advanced capabilities, OpenAI strengthens its position in the market, especially as it competes with tech giants like Alphabet’s Google, which are integrating AI models into video, audio, and text platforms.
OpenAI is forecasted to see its revenue skyrocket from $3.7 billion in 2024 to an estimated $11.6 billion by 2025, according to news reports. The company is in the midst of a $6.5 billion fundraising effort that could value it at $150 billion. Bloomberg news report indicates that OpenAI is likely to offer 7 percent stake to Chief Executive Officer Sam Altman.
New Fine-Tuning Tools for Enhanced AI Performance
Among the new features introduced is a fine-tuning tool that allows developers to improve the performance of AI models. By using a combination of images and text, developers can provide feedback to models on good and bad responses, enhancing their ability to understand complex visual and textual data. This fine-tuning capability holds promise for applications such as visual search and autonomous vehicle object detection.
Another significant release is a tool that enables smaller AI models to learn from larger ones, along with a “Prompt Caching” feature that can reduce development costs by half. By reusing previously processed text, developers can optimize performance and cut expenses.
Price
The Realtime API will begin rolling out today in public beta to all paid developers. Audio capabilities in the Realtime API are powered by the new GPT-4o model gpt-4o-realtime-preview.
Audio in the Chat Completions API will be released in the coming weeks, as a new model gpt-4o-audio-preview. With gpt-4o-audio-preview, developers can input text or audio into GPT-4o and receive responses in text, audio, or both.
The Realtime API uses both text tokens and audio tokens. Text input tokens are priced at $5 per 1M and $20 per 1M output tokens. Audio input is priced at $100 per 1M tokens and output is $200 per 1M tokens. This equates to approximately $0.06 per minute of audio input and $0.24 per minute of audio output. Audio in the Chat Completions API will be the same price.
OpenAI’s investment in AI innovation reflects the growing demand for sophisticated AI solutions across industries. The company’s efforts to simplify development, enhance model capabilities, and lower costs position it as a leading player in the rapidly evolving generative AI market.
Baburajan Kizhakedath
