GPT-4o mini. I've been complaining about how under-powered GPT 3.5 is for the price for a while now (I made fun of it in a keynote a few weeks ago).
GPT-4o mini is exactly what I've been looking forward to.
It supports 128,000 input tokens (both images and text) and an impressive 16,000 output tokens. Most other models are still ~4,000, and Claude 3.5 Sonnet got an upgrade to 8,192 just a few days ago. This makes it a good fit for translation and transformation tasks where the expected output more closely matches the size of the input.
OpenAI show benchmarks that have it out-performing Claude 3 Haiku and Gemini 1.5 Flash, the two previous cheapest-best models.
GPT-4o mini is 15 cents per million input tokens and 60 cents per million output tokens - a 60% discount on GPT-3.5, and cheaper than Claude 3 Haiku's 25c/125c and Gemini 1.5 Flash's 35c/70c. Or you can use the OpenAI batch API for 50% off again, in exchange for up-to-24-hours of delay in getting the results.
It's also worth comparing these prices with GPT-4o's: at $5/million input and $15/million output GPT-4o mini is 33x cheaper for input and 25x cheaper for output!
OpenAI point out that "the cost per token of GPT-4o mini has dropped by 99% since text-davinci-003, a less capable model introduced in 2022."
One catch: weirdly, the price for image inputs is the same for both GPT-4o and GPT-4o mini - Romain Huet says:
The dollar price per image is the same for GPT-4o and GPT-4o mini. To maintain this, GPT-4o mini uses more tokens per image.
Also notable:
GPT-4o mini in the API is the first model to apply our instruction hierarchy method, which helps to improve the model's ability to resist jailbreaks, prompt injections, and system prompt extractions.
My hunch is that this still won't 100% solve the security implications of prompt injection: I imagine creative enough attackers will still find ways to subvert system instructions, and the linked paper itself concludes "Finally, our current models are likely still vulnerable to powerful adversarial attacks". It could well help make accidental prompt injection a lot less common though, which is certainly a worthwhile improvement.
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