On June 13, 2023, OpenAI announced a number of updates to their API:

  • new function calling capability in the Chat Completions API
  • new 16k context version of gpt-3.5-turbo  with 2 times the price as the standard 4k version ($0.003 per 1K input tokens and $0.004 per 1K output)
  • 75% cost reduction on the embeddings model ($0.0001 per 1K tokens)
  • 25% cost reduction on input tokens for gpt-3.5-turbo
    ($0.0015 per 1K input tokens and $0.002 per 1K output tokens)
  • stable model names (gpt-3.5-turbo, gpt-4, and gpt-4-32k) will automatically be upgraded to the new models (gpt-3.5-turbo-0613, 
    gpt-4-0613, and gpt-4-32k-0613) on June 27
  • deprecation of gpt-3.5-turbo-0301 and gpt-4-0314 models after Sept 13

All models come with the same data privacy and security guarantees introduced on March 1, i.e. requests and API data will not be used for training.

The new function calling capability in gpt-3.5-turbo-0613,  and
gpt-4-0613, which is achieved by the new API parameters, functions and function_call, in the /v1/chat/completions endpoint allows e.g. the following use cases:

  • Chatbots that answer questions by calling external tools (like ChatGPT Plugins)
  • Convert natural language into API calls or database queries
  • Extract structured data from text.

Examples beyond the API documentation can be found in the OpenAI cookbook.