OpenAI Introduces Function Calling, Slashes Prices by Up to 75% in Broad API Update

OpenAI has unveiled a major expansion of its API capabilities alongside sweeping price reductions, democratizing developer access to advanced AI function calling while cutting costs across its model lineup. On June 13, 2023, the company announced three flagship updates: a new Functions API enabling language models to intelligently select and execute developer-defined operations, a quadrupling of context window size for GPT-3.5 Turbo, and dramatic pricing cuts that reduce embeddings costs by 75% and input token pricing for GPT-3.5 by 25%.