GPT-4o-2024-08-06 is now available to developers in Azure OpenAI Service, with a 50% discount

Good news for all developers: GPT-4o-2024-08-06 is now available on Azure OpenAI Service. Additionally, OpenAI has made this state-of-the-art technology more affordable for users by reducing the cost of API usage. Compared to its previous version, it is now 50% cheaper per input token and 33% cheaper per output token.

In a blog post, Microsoft says the new GPT-4o-2024-08-06 has some significant AI advancements.

We are excited to announce the release of the API for GPT-4o-2024-08-06, the newest and most advanced AI model from OpenAI, now available via the Azure OpenAI Service. This model brings significant advancements to AI capabilities, including the game-changing JSON Structured Outputs feature, which enhances developer productivity and application versatility. Starting today, you can harness the full power of GPT-4o-2024-08-06 in your generative AI applications.

Here the prices:

• Input Costs: Reduced by up to 50% ($2.50 per 1M input tokens)
• Output Costs: Reduced by up to 33% ($10.00 per 1M output tokens)

GPT-4o-2024-08-06 also comes with the Structured Outputs, which is a complete shift in the game. It gives developers the power to define precisely what JSON Schema they aim for AI to adhere to. This feature has two types: JSON Schema, which the user determines, and “Strict Mode,” which gives a more precise tool output. This flexibility and accuracy in the kind of output can significantly simplify development procedures. It is beneficial for applications that need organized data.

Although OpenAI did not specifically state performance enhancements, it appears that the gpt-4o-2024-08-06 model is better than its earlier versions. As per benchmarks, this model isn’t only for structured data and emphasizes providing more precise and dependable outputs. This is important for developers who desire to combine AI with their applications since it could significantly improve the user experience and dependability.

While OpenAI lowered pricing, Microsoft remains a little sly by not revealing how much they will charge for this model on Azure; however, according to the official blog post, the Redmond-based tech giant might soon make an announcement.

As gpt-4o-2024-08-06 emerges on Microsoft Azure, OpenAI keeps challenging limits and provides better handling, accuracy, and cost-effectiveness. The real power of this model will be observed in the creative uses that developers make with it. The options range from improving customer service bots to simplifying data processing and creating new user experiences.