On July 18, startup OpenAI announced that it has just launched a new artificial intelligence model called GPT-4o mini, which is more affordable and consumes less energy, aiming to expand its customer base.

ChatGPT's parent company said the GTP-4o mini is 60% cheaper than the GPT-3.5 Turbo model due out in 2023, costing just 15 cents per million input tokens and 60 cents per million output tokens.

Additionally, the new model outperformed GPT-4 on chat preferences and scored 82% on the Massive Multitask Language Understanding (MMLU) test, higher than Google's Gemini Flash (77.9%) and Anthropic's Claude Haiku (73.8%).

MMLU is a textual intelligence and reasoning metric used to evaluate the capabilities of language models. A higher MMLU score indicates that the model can understand and use language better across a variety of domains, improving its real-world usability.

Smaller language models require less computing power, making them a more affordable option for companies with limited resources looking to implement generative AI technology in their operations.

According to OpenAI, the current version of GPT-4o mini only supports text and image features in the application programming interface. Support for input and output for text, images, video, and audio will be integrated into the model at a later stage.

The US startup also said that users of ChatGPT's Free, Plus, and Team plans will be granted access to GPT-4o mini instead of GPT-3.5 Turbo starting July 18, while business users will have to wait until next week to access it.