GPT-4o price has been cut down to compete with Google

It’s cheaper now and better.

2 min. read

Published onAugust 7, 2024

published onAugust 7, 2024

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In a surprise twist, OpenAI has cut down on the prices of itsGPT-4o modeland introduced Structured Outputs. The move escalates a continuous price competition with Google, and OpenAI’s GPT-4o, recognized for its capacity to handle multimodal tasks by merging linguistic and visual inputs, now arrives at a cost that is cheaper than ever before.

The new pricing of $2.50 for every 1 million input tokens and $10.00 for each 1 million output tokens shows a price decrease by half in the case of input tokens and around 33% less expensive for output ones. This makes it more appealing compared to its former prices, especially when we compare it against the costs of the Gemini 1.5 Pro model’s pricing structure.

However, the most exciting development isthe arrival of Structured Outputs. This feature ensures that the model’s outputs match exactly with JSON Schemes given by developers, improving its usefulness and ability to be used in real-life situations.

Structured Outputs are now included in the API and available for use across different OpenAI models, such as the newly priced GPT-4o and its mini version, along with older ones like GPT-3.5 Turbo.

However, structured outputs come with difficulties and limits. For example, the JSON Schemes used in this feature might not be suitable for Zero Data Retention, a policy guaranteeing data deletion to keep users’ privacy intact. Also, developers must handle certain limitations when using structured outputs.

But it’s refreshing to see companies fighting for their place at the top of the AI industry. The GPT-4o price cut and new features like Structured Outputs show that competition is speeding up tech advancements.

This is good news for developers and tech companies: better tools at a lower price. And what’s not to love about it? What’s your opinion? Let us know in the comments section below.

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