OpenAI launches cheaper and faster GPT-4o mini AI model

OpenAI has introduced GPT-4o mini, a new small AI model that is both faster and cheaper than its current advanced models.

Available for developers and users through the ChatGPT web and mobile app, with enterprise access starting next week, GPT-4o mini is designed for high-volume, simple tasks, providing speed and cost efficiencies over larger models like GPT-4 Omni.

The company claims GPT-4o mini outperforms leading small AI models in text and vision reasoning tasks. It is set to replace GPT-3.5 Turbo as OpenAI's smallest model, being over 60% cheaper to run.

For every corner of the world to be empowered by AI, we need to make the models much more affordable,

said Olivier Godement, OpenAI’s head of Product API.

GPT-4o mini supports text and vision and will include video and audio capabilities in the future. Priced at 15 cents per million input tokens and 60 cents per million output tokens, it offers a context window of 128,000 tokens and has a knowledge cutoff of October 2023.

In addition, OpenAI announced new enterprise tools, including the Enterprise Compliance API for regulated industries, allowing for better data audit and control.