diff --git a/Pipfile b/Pipfile
index e835831e..b7c320b5 100644
--- a/Pipfile
+++ b/Pipfile
@@ -37,7 +37,7 @@ open-aea-test-autonomy = "==0.18.3"
 open-autonomy = {version = "==0.18.3", extras = ["all"]}
 tomte = {version = "==0.2.17", extras = ["cli", "tests"]}
 requests = ">=2.28.1,<2.31.2"
-openai = "==1.12.0"
+openai = "==1.55.3"
 bases = "==0.3.0"
 typing_validation = "==1.1.0"
 typing_extensions = "==4.9.0"
diff --git a/packages/valory/connections/openai/connection.yaml b/packages/valory/connections/openai/connection.yaml
index 0043a7f5..b7e1307b 100644
--- a/packages/valory/connections/openai/connection.yaml
+++ b/packages/valory/connections/openai/connection.yaml
@@ -25,7 +25,7 @@ excluded_protocols: []
 restricted_to_protocols: []
 dependencies:
   openai:
-    version: ==1.12.0
+    version: ==1.55.3
   requests:
     version: ==2.28.1
 is_abstract: false
diff --git a/tox.ini b/tox.ini
index e9a63fe5..b21f0474 100644
--- a/tox.ini
+++ b/tox.ini
@@ -44,7 +44,7 @@ deps =
     open-autonomy==0.18.3
     requests>=2.28.1,<2.31.2
     typing-extensions==4.9.0
-    openai==1.12.0
+    openai==1.55.3
     bases==0.3.0
     typing_validation==1.1.0
     tweepy==4.14.0