Official announcements or updates from BoltAI

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.