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OpenAI on Monday launched its new AI model GPT-4.1, along with smaller versions GPT-4.1 mini and GPT-4.1 nano, touting major improvements in coding, instruction following, and long context comprehension. The new models, available only on OpenAI’s application programming interface (API), outperform the company’s most advanced GPT-4o model across the board, the ChatGPT maker said. With improved context understanding, they can support up to 1 million “tokens” a term that refers to the units of data processed by an AI model. The models are also equipped with refreshed knowledge up to June 2024. GPT-4.1 showed a 21% improvement over GPT-4o and 27% over GPT-4.5 on coding. Meanwhile, the improvements in instruction following and long context comprehension also make the GPT-4.1 models more effective at powering AI agents. “Benchmarks are strong, but we focused on real-world utility, and developers seem very happy,” CEO Sam Altman said in a post on social media platform X. The family of models also operate at a “much lower cost” compared to GPT-4.5, OpenAI said. The company added it would turn off the GPT-4.5 preview that is available in the API in July, as the new models offer “improved or similar performance.” OpenAI in February released the GPT-4.5 research preview for some users and developers and announced plans to expand access in subsequent weeks. Deborah Sophia, Reuters
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E-Commerce
President Donald Trump on Monday suggested that he might temporarily exempt the auto industry from tariffs he previously imposed on the sector, to give carmakers time to adjust their supply chains. Im looking at something to help some of the car companies with it, Trump told reporters gathered in the Oval Office. The Republican president said automakers needed time to relocate production from Canada, Mexico and other places. “And they need a little bit of time because theyre going to make them here, but they need a little bit of time. So Im talking about things like that. The statement hinted at yet another round of reversals on tariffs as Trump’s onslaught of import taxes has panicked financial markets and raised deep concerns from Wall Street economists about a possible recession. When Trump announced the 25% auto tariffs on March 27, he described them as permanent. His hard lines on trade have become increasingly blurred as he has sought to limit the possible economic and political blowback from his policies. Last week, after a bond market sell-off pushed up interest rates on U.S. debt, Trump announced that for 90 days his broader tariffs against dozens of countries would instead be set at a baseline 10% to give time for negotiations. At the same time, Trump increased the import taxes on China to 145%, only to temporarily exempt electronics from some of those tariffs by having those goods charged at a 20% rate. I dont change my mind, but Im flexible, Trump said Monday. Trump’s flexibility has also fueled a sense of uncertainty and confusion about his intentions and end goals. The S&P 500 stock index was up slightly in Monday afternoon trading, but it’s still down nearly 9% this year. Interest rates on 10-year U.S. Treasury notes were also elevated at roughly 4.4%. Carl Tannenbaum, chief economist for the Northern Trust global financial firm, said the whiplash had been so great that he might have to get fitted for a neck brace. Tannenbaum warned in an analysis: Damage to consumer, business, and market confidence may already be irreversible. Maroš Šefčovič, the European commissioner for trade and economic security, posted on X on Monday that on behalf of the European Union he engaged in trade negotiations with Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer. “The EU remains constructive and ready for a fair deal including reciprocity through our 0-for-0 tariff offer on industrial goods and the work on non-tariff barriers,” Šefčovič said. The U.S. president also said that he spoke with Apple CEO Tim Cook and helped him recently. Many Apple products, including its popular iPhone, are assembled in China. Apple didnt respond to a Monday request for comment about the latest swings in the Trump administrations tariff pendulum. Even if the exemptions granted on electronics last week turn out to be short-lived, the temporary reprieve gives Apple some breathing room to figure out ways to minimize the trade wars impact on its iPhone sales in the U.S. That prospect helped lift Apples stock price by about 3% during Mondays afternoon trading. Still, the stock gave up some of its earlier 7% increase as investors processed the possibility that the iPhone could still be jolted by more tariffs on Chinese-made products in the weeks ahead. Wedbush Securities analyst Dan Ives said Apple is clearly in a far better position than it was a week ago, but he warned there’s still mass uncertainty, chaos, and confusion about the next steps ahead. One possible workaround Apple may be examining during the current tariff reprieve is how to shift even more of its iPhone production from its longtime hubs in China to India, where it began expanding its manufacturing while Trump waged a trade war during his first term as president. The Trump administration has suggested that its tariffs had isolated China as the U.S. engaged in talks with other countries. But China is also seeking to build tighter relationships in Asia with nations stung by Trump’s tariffs. Chinas leader, Xi Jinping, on Monday met in Hanoi with Vietnam’s Communist Party General Secretary To Lam with the message that no one wins in trade wars. Asked about the meeting, Trump suggested the two nations were conspiring to do economic harm to the U.S. by trying to figure out how do we screw the United States of America. Josh Boak and Michael Liedtke, Associated Press
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E-Commerce
Two California Democrats have introduced a bill that would allow rideshare drivers to bargain with gig companies, including Uber and Lyft, for better pay and certain benefits. The measure, Assembly Bill 1340, is likely to face steep opposition from the gig companies that rely on thousands of independent workers to keep their services operating at an accessible price point. “The bill would empower rideshare drivers with the right to organize for better working conditions and establish a process for gig drivers to choose their union,” Californias Service Employees International Union, which is supporting the bill, said in a press release. “It would protect workers from retaliation when they join together to organize and also provide a process for drivers to bargain with the industry for better pay, working conditions, and price transparency for riders.” It added that more than 600,000 drivers in the state would benefit if the bill was signed into law. It’s expected to be heard in Assembly committees in the coming weeks. The measure comes almost five years after California voters passed Proposition 22, which allowed gig companies to classify workers as independent contractors rather than employees. Companies like Uber, Lyft, Instacart, and DoorDash funded more than $200 million total in support of the bill. The passing ultimately led them to avoid being forced to pay hefty costs for things such as paid time off and insurance. A Lyft spokesperson, when asked for comment on the new bill, reiterated the company’s support for Prop 22. “Drivers overwhelmingly voted for and continue to support Prop. 22 because it is their preferred way to structure benefits and protections,” the spokesperson said. “And for years, we’ve been building upon this framework to roll out new products and features designed to improve the driver experience. This is the best way to balance the needs of drivers without trying to undercut the will of the voters when they originally passed Prop. 22.” An Uber spokesperson did not immediately respond to Fast Company‘s request for comment.
Category:
E-Commerce
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