OpenAI announces new models and API updates
OpenAI has made several announcements today, including releasing two new embedding models, new GPT-4 Turbo and moderation models, and new API usage management tools. According to OpenAI, “an embeddings is a sequence of numbers that represents the concepts within content such as natural language or code.” They make it easier for machine learning models to understand the relationships between content. The two new embedding models are the text-embedding-3-small model and the text-embedding-3-large model. Text-embedding-3-small is a highly efficient model that offers improved performance over the previous model (the multi-language retrieval benchmark increased from 31.4% to 44%, and the English test benchmark increased from 61% to 62.3%). Pricing is also five times lower on this newer model. The text-embedding-3-large model can create embeddings that have up to 3072 dimensions and also offers improved performance compared to the text-embedding-ada-002 model. In addit...