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What will be the impact of the token usage cost reduction on OpenAI's overall token usage by Q4 2024?
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OpenAI's official financial statements or reports
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OpenAI Introduces Structured Outputs in API with New gpt-4o Model, Price Reductions Effective August 6
Aug 6, 2024, 06:31 PM
OpenAI has introduced 'Structured Outputs' in its API, a significant enhancement that ensures model outputs reliably adhere to developer-supplied JSON Schemas. This new feature, available with the updated gpt-4o-2024-08-06 model, achieves 100% reliability in matching output schemas, up from 86% in previous versions. The update, effective August 6, also brings substantial cost savings for developers, with a 50% reduction in input token costs to $2.50 per 1 million tokens and a 33% reduction in output token costs to $10.00 per 1 million tokens. This advancement is expected to greatly benefit applications requiring precise data formatting, such as validating data formats on the fly, automating data entry, and building dynamic user interfaces.
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