OpenAI to make its AI Models Cost Effective and more Functional

ChatGPT creator In its first-ever developer conference on Nov 6, OpenAI is expected to announce product enhancements that will make its AI models Cost Effective and more functional. The conference signals OpenAI's ambition to go beyond being a consumer sensation and become a provider of a popular developer platform, with CEO Sam Altman promising attendees "some great new stuff."

The one-day event, held in a desolate area of San Francisco near City Hall, draws hundreds of developers from all over the world. The burgeoning artificial intelligence sector has been a bright spot for San Francisco's economy, which has struggled to recover from the pandemic.

After years of working in relative obscurity, OpenAI sparked the generative AI craze last November with the release of ChatGPT, Silicon Valley's darling chatbot that quickly became one of the world's fastest growing consumer applications. Using historical data, generative AI can generate entirely new content such as fully formed text, images, and software code.

OpenAI, backed by billions of dollars from Microsoft, has become the default version of generative AI for many, allowing users to generate term papers, contracts, travel itineraries, and even entire novels.

According to Reuters, OpenAI will announce updates aimed at lowering developer costs as well as new vision capabilities. Cost-cutting addresses a major concern for partners, whose spending on OpenAI's powerful models could quickly add up as they attempt to build long-term businesses by developing and selling AI software.