“The company reveals Whisper large-v2, the open source model will deliver “faster and cost-effective results,” through the API whereas the ChatGPT model will keep evolving.”

In an announcement, OpenAI said, developers who are interested in using chatbot ChatGPT powered by artificial intelligence and Whisper- the speech-to-text model can do it through API provided by maker OpenAI.

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OpenAI is an artificial intelligence research and deployment company engaged in ensuring that AI benefits all of humanity.  The company has launched the first of its kind of chatbot which comes with hundreds of activities to make content creation and more things possible in no time.

OpenAI said, “Through a series of system-wide optimizations, we’ve achieved 90% cost reduction for ChatGPT since December; we’re now passing through those savings to API users. The ChatGPT model family we are releasing today, gpt-3.5-turbo, is the same model used in the ChatGPT product. It is priced at $0.002 per 1k tokens, which is 10x cheaper than our existing GPT-3.5 models,”.

The company reveals Whisper large-v2, the open source model will deliver “faster and cost-effective results,” through the API whereas the ChatGPT model will keep evolving. The AI research and deployment company pointed at some businesses already using the company's API to serve their consumers that are Instacart, Quizlet, Shopify’s Shop, Speak, and Snapchat.