OpenAI has introduced GPT-4o mini, a cost-efficient small model that offers superior performance compared to previous models like GPT-3.5 Turbo. It's significantly more affordable, priced at 15 cents per million input tokens and 60 cents per million output tokens. The model supports text and vision inputs, has a 128K token context window, and knowledge up to October 2023. It outperforms other small models on various benchmarks, including reasoning tasks, math, coding, and multimodal reasoning. https://openai.com/index/gpt-4o-mini-advancing-cost-efficient-intelligence/