Google has announced that the Gemini 2.0 Flash-Lite model is the smallest in the Gemini 2.0 series, which was just launched at the beginning of the month, has now entered the generally available (GA) status and can be accessed directly through the Gemini API.
The significance of this lies in the fact that the Gemini 2.0 Flash-Lite model is replacing the previous Gemini 1.5 Flash model while maintaining the same price structure, with an input cost of 0.075 dollars per 1 million tokens, considered to be one of the most cost-effective in the industry at the moment (compared to the GPT-4o mini, which charges 0.15 dollars per 1 million tokens, making it more expensive). This makes it a model that various organizations are adopting as their primary choice for API utilization, due to the superior quality-to-price ratio it offers.
Google has also removed the size limitation of a 128k token context window seen in the original Gemini 1.5 Flash, now standardizing the pricing across all context window sizes, resulting in a further reduction in costs for tasks requiring longer inputs.
TLDR: Google introduces Gemini 2.0 Flash-Lite, the smallest model in the series, now available for direct use via Gemini API. It offers a competitive price of 0.075 dollars per 1 million tokens and removes size limitations for context windows, providing a cost-effective solution for various organizations.
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