OpenAI, Mistral AI debut new cost-efficient language models

July 18, 2024: Cost-Efficient AI Models Unveiled by OpenAI, Mistral - OpenAI and Mistral AI have launched new cost-efficient language models. OpenAIs GPT-4o mini, a cheaper version of GPT-4o, includes instruction hierarchy to prevent malicious inputs. Mistral AIs open-source Mistral NeMo 12B model, developed with Nvidia, uses fewer parameters for improved cost-efficiency and can run on consumer-grade GPUs. Both models aim to balance quality and operational costs for tasks like text generation, code crafting, and translation.