diff --git a/autogen/version.py b/autogen/version.py
index 16bf2ffe042..ad7ff4d08ab 100644
--- a/autogen/version.py
+++ b/autogen/version.py
@@ -1 +1 @@
-__version__ = "0.2.0b4"
+__version__ = "0.2.0b5"
diff --git a/setup.py b/setup.py
index 6c2d3a07435..4dc5d4e9dd6 100644
--- a/setup.py
+++ b/setup.py
@@ -14,7 +14,7 @@
 __version__ = version["__version__"]
 
 install_requires = [
-    "openai==1.1.1",
+    "openai~=1.2",
     "diskcache",
     "termcolor",
     "flaml",