OpenAI has released o3-mini, a new AI model designed to be cost-effective and optimized for STEM tasks, particularly in science, math, and coding. The model features enhanced reasoning, performance, and safety, and includes developer tools with options for speed or precision, replacing the previous o1-mini model. Additionally, OpenAI has updated the 'chain of thought' feature for o3-mini, allowing both free and paid users of ChatGPT to see more detailed reasoning steps behind the model's responses. This update aims to provide users with greater clarity and confidence in the model's outputs. The o3-mini model ranks number one in hard prompts, coding, and math on the Chatbot Arena leaderboard, despite being 15 times cheaper than its predecessor, o1. However, it remains ranked ninth overall due to its weak spot in creative writing.